Credit ratings agency Fitch upgraded Argentina’s long-term foreign-currency and local-currency issuer default rating to ‘CCC+’ from ‘CCC’ on May 12, citing a new International Monetary Fund programme and foreign exchange market liberalisation. The upgrade reflects bolstered external liquidity and enhanced durability of President Javier Milei’s economic stabilisation programme, Fitch said in a statement, noting that economic recovery and disinflation have exceeded prior expectations.
SOURCE: INTELLINEWS
https://www.intellinews.com/argentina-s-credit-rating-upgraded-by-fitch-to-ccc-on-imf-deal-380766