Argentina faces more downgrades

Argentina faces more downgrades

Capital Markets Bonds Debt Fixed Income Corporate & Sovereign Strategy Economy & Policy Funds Politics Argentina

Rating agencies Moody's and Fitch are expected to follow the lead from S&P Global and downgrade Argentina after the country extended the maturities on $57bn in bonds. "This is for sure," said a bonds banker in New York. "The market has been pricing a 100% default in the next 12 months." S&P cut Argentina's long-term sovereign credit ratings to CCC- with a negative outlook, saying the government's plans to delay debt payments gives rise to "heightened risk of a default." The market los

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