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Fitch cuts Argentina to CCC-

Fitch cuts Argentina to CCC-

October 28, 2022
Rating agency cites "deep macroeconomic imbalances" and "highly constrained" liquidity as reasons for the downgrade

Corporate & Sovereign Strategy Credit Ratings Fitch Ratings Downgrade Economy & Policy Bonds Debt Capital Markets Argentina

Fitch Ratings said it downgraded Argentina by one notch to CCC- due to "deep macroeconomic imbalances and a highly constrained external liquidity position." Argentina secured a $44 billion extended fund facility (EFF) from the International Monetary Fund (IMF) in March, but the financing has not provided a "strong anchor" for the country to restore foreign reserves and regain access to the financial markets, Fitch said in a report on Wednesday. In the meantime, Argentina's foreign-currency debt

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