April 1, 2015
Tuesday, June 17, 2014

S&P lowers Argentine debt rating following Court reverse

International ratings agency Standard & Poors has lowered the rating of Argentine debt overseas from CCC+ to CCC-, a drop of two steps which was prompted by yesterday's reverse in the US Supreme Court.

S&P acted after the United States' highest judicial authority refused to take the nation's case against hedge funds including NML Capital, who are demanding the full payment of debt defaulted on in 2001.

"The Supreme Court's decision increases the risk of a halt to foreign debt payments that the country owes bondholders under New York law," the agency explained in a press statement explaining the decision.

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Tags:  S&P  ratings  debt  Argentina  US Supreme Court  

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Director: Orlando Mario Vignatti - Edition No. 4446 - This publication is a property of NEFIR S.A. -RNPI Nº 5177376 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA