TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

EZ/UK T-Bill Calendar: 26-Week GTB Auction on Wednesday

EZ/UK T-Bill Calendar: 26-Week GTB Auction on Wednesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Fitch Says Debt Service Prospects Remain Unclear

ARGENTINA
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • In a new report, Fitch says that Argentina's debt service prospects remain unclear after the latest policy measures.
  • Fitch states, “Argentina’s latest economic adjustment measures compound uncertainties over its ability to accumulate international reserves and recover access to global capital markets". These uncertainties are reflected in their ‘CC’ sovereign rating, affirmed in June, which signals their view that a restructuring or default event on foreign-currency bonds is probable.
  • Fitch also notes that, “in assuming the debt of the BCRA, the treasury will build up a new stock of short-term debt that could be a source of potential dollar demand in a confidence shock.”
    • Link to full report here.
106 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • In a new report, Fitch says that Argentina's debt service prospects remain unclear after the latest policy measures.
  • Fitch states, “Argentina’s latest economic adjustment measures compound uncertainties over its ability to accumulate international reserves and recover access to global capital markets". These uncertainties are reflected in their ‘CC’ sovereign rating, affirmed in June, which signals their view that a restructuring or default event on foreign-currency bonds is probable.
  • Fitch also notes that, “in assuming the debt of the BCRA, the treasury will build up a new stock of short-term debt that could be a source of potential dollar demand in a confidence shock.”
    • Link to full report here.