Titoli di Stato area non Euro ARGENTINA obbligazioni e tango bond (4 lettori)

waltermasoni

waltermasoni

Caribbean Trader

Argentina Foreign Currency Ratings Lowered To 'SD' On Postponement Of U.S.-Dollar Principal And Interest Payments
  • 07-Apr-2020 14:12 EDT
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Overview
  • The COVID-19 crisis has exacerbated Argentina's already stressed fiscal needs and resources, leading the administration of President Alberto Fernandez to reconfigure its financial planning and budgetary priorities.
  • On April 6, it differentiated treatment of Argentine-law foreign currency bonds from that of foreign-law foreign currency bonds and postponed payment of principal and interest on this debt through December 2020, or a potentially earlier date, as decided by the ministry of finance.
  • This constitutes a default under our distressed exchange criteria, and we are lowering our long- and short-term foreign currency sovereign credit ratings on Argentina to 'SD/SD' from 'CCC-/C'.
  • There is no outlook on the 'SD' foreign and local currency long-term sovereign credit ratings (the latter were lowered to 'SD' on Jan. 21, 2020), but we could raise the ratings following the presentation of a comprehensive restructuring of Argentina's foreign-law foreign currency commercial debt, currently being formulated, and its acceptance by creditors.
 
tommy271

tommy271

Forumer storico
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