S&P Slashes Argentina Rating

S&P Slashes Argentina Rating

Argentina

S&P has lowered the Argentina’s rating to B minus from B, amid uncertainty stemming from the government’s plans to nationalize the pension fund system. The move puts Argentina’s S&P rating on par with Ecuador’s. The B minus rating also matches Moody’s’ B3 score for the country. Markets appear to have priced in the bad news ahead of the downgrade. Argentina’s 2012 notes closed Friday at 18.5-19.5 cents on the dollar, according to one buysider, up about 1.5 cents. The peso also saw a minor uptick,

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