(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.
(Reporting by Shivani Singh in Bengaluru; Editing by Lisa Shumaker)
