S&P raises Argentina’s long-term foreign currency rating to ‘CCC+’ By Reuters

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(Reuters) – Ratings agency S&P Global Ratings on Monday upgraded Argentina’s long-term sovereign credit rating to ‘CCC+’ from ‘SD’ citing the conclusion of prolonged foreign and local law foreign currency debt restructurings.

S&P also said https://www.standardandpoors.com/en_US/web/guest/article/-/view/type/HTML/id/2508938 that the outlook on Argentina’s long-term ratings was stable to account for certain macroeconomic risks against the fiscal space provided by the various debt restructurings.

The agency’s action comes after Argentina took a debt revamp over $100 billion with local bond exchange on Friday.

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