May 16, 2020 / 12:25 AM / 17 days ago

S&P cuts Buenos Aires province's rating after missed bond payment

May 15 (Reuters) - Ratings agency S&P Global on Friday cut Buenos Aires’s credit rating to “SD” from “CC” after the Argentine province missed the deadline for about a $110 million bond payment.

"Given the missed payment on this debt, we also don't expect the province to make payment on the global 2028 bond, which is currently in the grace period, and lowered our rating on it to 'D' as well," S&P said in a statement here (Reporting by Ismail Shakil in Bengaluru; Editing by Sandra Maler)

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