Looking to restructure its debt, the Argentine province of Misiones is braving the local market with a $100 million securitization of co-participation taxes.

The deal, which bankers are hoping to close before year-end, is being managed by Banco CMF S.A. and Banco Macro S.A. Duff & Phelps Credit Rating Co. and Standard & Poor's Ratings Services will rate the deal.

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