Saturday , October 23 2021

S & P reduces Argentina's credit rating



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Standard & Poor's on Monday reduced the long-term sovereign rating of Argentina one & # 39; B & # 39; B & # 39; in & # 39; B + & # 39; and revised the outlook for the country's debt to stable & # 39; since the special & # 39; negative review & # 39; in which it was placed at the end of August.

The rating agency explained in a statement that "there has been an erosion of Argentina's debt profile, the trajectory of economic growth and the dynamics of inflation, following setbacks in the implementation of its challenging economic adjustment program. "

However, he explained that the outlook for long-term ratings is stable due to expectations that the president's government Mauricio Macri will implement fiscal, monetary and other measures over the next 18 months to stabilize the economy.

S & P has maintained the foreign currency and local currency short-term ratings on & # 39; B & # 39; B & # 39 ;.

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