August 21, 2019
S&P Global said it has cut the credit ratings of three banks and nine corporate issuers in Argentina, following a downgrade to the sovereign ratings late last week.
S&P downgraded Banco Galicia, Banco Patagonia and Banco Provincia (Bapro) to B- from B with a negative outlook, in line with the sovereign ratings. It also affirmed the B- rating for Banco Hipotecario, the rating agency said in a report.
Argentina's debt and equity markets took a dive after the center-left presidential candid
Rating agency also cuts nine corporate issuers amid market turmoil