Argentina is downgraded after U.S. appeals court ruling

09/11/2013 | Bloomberg · Latin American Herald Tribune (Venezuela) · Reuters

Standard & Poor's cut the credit rating on Argentina's long-term debt after a U.S. appeals court prohibited the country from paying a majority of creditors unless it also satisfies claims of holdout bond investors who refused to participate in 2005 and 2010 debt exchanges. S&P lowered Argentina's rating to CCC+, which is seven steps below investment grade, from B-, and assigned it a negative outlook.

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Bloomberg · Latin American Herald Tribune (Venezuela) · Reuters

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