NEW YORK (TheStreet) -- Shares of AT&T (T) - Get Report  were increasing in late-afternoon trading on Friday as the telecommunications giant is looking into making investments in Argentina as the country launches telecom reforms, according to Reuters

Argentina's Communications Minister Oscar Aguad said AT&T and telecommunications company Motorola Solutions (MSI) have expressed interest in investing in Argentina. The government expects to draw $20 billion in investments over four years. 

The telecom reform would allow phone companies to offer paid television services, a move that Argentina's President Mauricio Macri is making as he tries to generate new investments in the country's economy. 

The new rules will take effect in 2018. 

Macri also plans to sponsor an updated communications law in 2017 that would encourage technological innovation and competition, Reuters reports. 

(AT&T is a holding in David Peltier's Dividend Stock Advisor.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates AT&T as a Buy with a ratings score of A+. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that it rates. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, expanding profit margins and solid stock price performance. The team feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that it evaluated.

You can view the full analysis from the report here:

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