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Moody's hikes Argentina ratings up two notches, outlook stable
28 Articles
28 Articles
Moody's hikes Argentina ratings up two notches, outlook stable
Moody's on Thursday hiked its rating for the government of Argentina's long-term foreign currency and local currency issuer ratings to "Caa1" from "Caa3", up two notches though it remains in so-called junk, or non-investment grade, territory.
Moody's upgrades Argentina's rating with positive shifting
Moody's has raised Argentina's foreign and local currency credit rating from Caa3 to Caa1, also shifting the outlook from “stable” to “positive.” This upgrade reflects Moody's view that Argentina's broad liberalization of exchange and capital controls, coupled with a new program with the International Monetary Fund (IMF), will improve the availability of foreign currency and ease pressure on external finances.
The risk qualifier Moody's raised Argentina's note as an issuer of sovereign debt, an improvement that is based on the agreement signed in April with the IMF and the release of exchange controls.
The Moody’s agency raised it from Caa3 to Caa1 for long-term bonds; it is the most severe qualifier on the market
This means an improvement based on the agreement signed in April with the International Monetary Fund (IMF).
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