S&P lists La Rioja in default

S&P lists La Rioja in default

Bonds Debt Capital Markets Economy & Policy Fixed Income Argentina

S&P Global Ratings said it downgraded La Rioja to selective default (SD) from CC after the Argentine province failed to make interest payments on its 9.75% 2025 bonds. The rating agency added, however, that it will raise the ratings if the province comes to a restructuring agreement with its creditors. La Rioja, a small province in western Argentina, entered a 30-day grace period on August 24 after it missed a $14.1 million interest payment. It said at the time that it planned to use the ext

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