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Fitch Says Debt Service Prospects Remain Unclear

ARGENTINA
  • 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.
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