Standard&Poor's Ratings Services raised its sovereign credit rating on the Republic of Argentina on Sept. 13, 2010, following improvements in the government's financial profile that stemmed from lower debt levels and diminished short-term liquidity pressures. A strong economic recovery in 2010--supported by favorable external conditions that we expect to persist over the medium term--should ease rollover risk. Despite the prevalence of a confrontational political and economical approach that has increased polarization, we expect the country's GDP to increase by 8% in 2010 and 5.4% in 2011. Argentina's government has been able to reduce debt levels in terms of GDP and improve its debt maturity profile in recent years. Accordingly, we expect net general government debt to come down
