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Fitch downgrades Argentina to “partially default”-Reuters News-International

2019-08-30T22:01:21.813Z

[30th Reuters]-Rating agency Fitch Ratings has lowered its default currency and foreign currency issuer default rating (IDR) from “CCC” to “RD” (partial default) on the 30th


[30th Reuters]-Rating agency Fitch Ratings lowered its default currency and foreign currency issuer default rating (IDR) from "CCC" to "RD" (partially defaulted) on the 30th.

After explaining that the downgrade was a measure that had received the government's unilateral repayment of some debts, the government's response was equivalent to a debt exchange (DDE) due to financial difficulties, and the country was equivalent to default.

Moody's also lowered Argentina's home currency and foreign currency issuer rating from “B2” to “Caa2” on the 30th.

He pointed out that a loss would be expected if a selective debt restructuring was performed during the debt restructuring. Also, in the presidential election in October, opposition candidates are likely to win.

Source: asahi

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