Moody’s upgrades rating of Argentina
Buenos Aires (awp / afp) – The US rating agency Moody’s raised the sovereign rating Friday from Argentina to “Caa1″ to “B3″, four months after the coming to power of a government of center-right and just before a large debt issuance scheduled for Monday.
the Moody’s decision is related to the fact that Argentina is about to pay off hedge funds says “vultures” late next week and welcomes the “improved economic policies since President Macri came to power.”
Argentina will be able to return to international capital markets since that a US court judgment delivered Wednesday confirms the lifting of bans imposed on the country in 2012.
the decision, made by a new York Court of Appeals, will enable Buenos Aires to rise in the coming days funds from institutional investors to pay creditors holders 7% of claims inherited from the economic crisis of 2001. They had so far refused any debt restructuring.
in power for a little over three month, the new Argentine president’s center-right Mauricio Macri has committed numerous reforms to eliminate the protectionist measures introduced by the former presidents Nestor and Cristina Kirchner, who governed the country from 2003 to 2015.
afp / rp
(AWP / 4/15/2016 9:15 p.m.)
(AWP / 4/15/2016 9:15 p.m.) ->
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