Factual error: Rico lives in Buenos Aires, which has no hills within a couple of hundred miles. The city shown in the film has hills.
Factual error: The last thing Rico's parents say before the meteor strikes is, "Looks like rain," as the sky outside gets darker. As a large meteor (large enough to destroy a major city) makes it's appearance in the atmosphere, there would be a flash of light brighter than the sun. Several minutes later a dark dust cloud would rise, but by then everyone in the vicinity would be killed.