September 3, 2019 / 8:01 PM / 3 months ago

Fitch raises Argentina's sovereign debt rating to "CC"

Sept 3 (Reuters) - Fitch on Tuesday upgraded Argentina’s sovereign debt rating to “CC” from “restricted default” following the country’s payment of short-term debt instruments on Aug. 30.

The ratings agency, however, downgraded the country’s ceiling to ‘CCC’ from ‘B-‘, citing the recent imposition of capital controls and risks that they could be tightened further.

It also said the “CC” rating reflects Fitch’s expectation that a further default by the country or debt restructuring of some kind is probable.

Fitch had downgraded Argentine sovereign debt to “restricted default” last week. (Reporting by Shivani Singh in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below