Fitch cuts Argentina's credit rating to near default status
NEW YORK (Reuters) - Fitch Ratings on Tuesday downgraded Argentina's sovereign credit rating to CC from B, a five-step cut reflecting its view of a "probable" default after a U.S. judge ordered payment to holdout investors from its historic 2002 default.
"The increased probability that Argentina will not service its restructured debt securities issued under New York law on a timely basis" stems from U.S. District Court Judge Thomas Griesa's order for Argentina to pay holdout investors concurrent to bondholders who participated in two prior debt restructurings.
- Tweet this
- Share this
- Digg this
- Deadly gun attack in eastern Ukraine shakes fragile Geneva accord |
- South Korea recovers first bodies from inside sunken ferry |
- Special Report - How the U.S. made its Putin problem worse
- Bankrupt British loans official resigns, embarrassing PM Cameron
- Australia sees 'regroup' on Malaysian plane search in a few days |