Rating agencies split on Argentine strategy

Rating agencies split on Argentine strategy

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Economy & Policy Regulation Politics Argentina United States

Days after Argentine President Alberto Fernández announced a year-long delay on debt payments for local dollar-denominated Treasury notes, credit rating agencies were divided in their reactions to the measure. Fitch Ratings first downgraded Argentina's foreign-currency ratings to RD, or restrictive default, but it returned the long-term ratings to CC on Monday, after the government instituted a new repayment schedule, the rating agency said in a report. "The CC rating indicates a high probabilit

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