• S&P LOWERS ARGENTINA LC RTG TO 'SD'; AFFIRMS 'CCC-' FC RTG (BBG)
  • Argentina's long-term local currency debt rating was downgraded by S&P to SD from CCC-
  • S&P Commentary:
    • "We view a distressed exchange as tantamount to default, and, as a result, we lowered our local currency sovereign credit ratings on Argentina to 'SD/SD' from 'CCC-/C'. We affirmed our 'CCC-/C' foreign currency ratings. Upon completion of the debt exchange, we would likely raise our long-term local currency rating to the 'CCC' category." – S&P

ARGENTINA: S&P Lowers Local Currency Rating to 'SD'

Last updated at:Mar-13 19:56By: Keith Gyles
  • S&P LOWERS ARGENTINA LC RTG TO 'SD'; AFFIRMS 'CCC-' FC RTG (BBG)
  • Argentina's long-term local currency debt rating was downgraded by S&P to SD from CCC-
  • S&P Commentary:
    • "We view a distressed exchange as tantamount to default, and, as a result, we lowered our local currency sovereign credit ratings on Argentina to 'SD/SD' from 'CCC-/C'. We affirmed our 'CCC-/C' foreign currency ratings. Upon completion of the debt exchange, we would likely raise our long-term local currency rating to the 'CCC' category." – S&P

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