Default implications come into focus

Default implications come into focus

Bonds Corporate & Sovereign Strategy

Argentina’s default last week could have widespread ramifications for sovereign restructurings, specialists said as markets digested the implications of the developments. Holdout creditors’ ability to block payments on restructured debt, which pushed Argentina into default last week, opens a legal path for bondholders who feel they are not being fairly treated in negotiations, said experts. “It is a precedent in that a government's efforts to unilaterally restructure without paying attention to

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