Analysts bullish on Argentina despite Moody’s downgrade

Analysts bullish on Argentina despite Moody’s downgrade

Argentina Economy & Policy Corporate & Sovereign Strategy

Argentina’s dollar debt won a vote of confidence from Wall Street Monday despite a downgrade of the sovereign’s external bonds by ratings agency Moody’s. Bank of America Merrill Lynch upgraded Argentine bonds to an effective buy, following an apparent stabilization in its foreign exchange reserves and fresh indications the country could finally resolve $10bn in outstanding debt owed to the Paris Club group of creditor nations following the sovereign’s 2002 default — a necessary step for any norm

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