Fitch Ratings has affirmed Argentina’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC’. Argentina’s ‘CC’ rating signals Fitch’s view that a bond restructuring or other default event of some sort appears probable in the coming years, given persisting uncertainty around the sovereign’s ability to achieve a sustained build-up in international reserves and recover access to global capital markets, and thus make large foreign-currency bond payments due in coming years.
June 11, 2024
SOURCE: BNA AMERICAS
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