December 24, 2019
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
Fitch upgrades the sovereign issuer to CC, while S&P says the country has gone into default