Argentina’s local debt was slapped with a downgrade to selective default by S&P Global Ratings after the government pushed investors into exchanging bonds for new notes with later maturities. President Javier Milei’s government launched an exchange of around US$65 billion of peso-denominated securities due in 2024 for new bonds maturing next year through 2028. Creditors holding about 77 percent of the instruments agreed to the deal.
March 13, 2024
SOURCE: BUENOS AIRES TIMES
MORE COVERAGE:
https://www.batimes.com.ar/news/economy/argentina-downgraded-to-selective-default-by-s.phtml