RIO DE JANEIRO, BRAZIL - S&P Global risk agency raised Argentina's rating from SD (selective default) to CCC+. The outlook is stable.
The rating comes after Argentina has restructured approximately 99 percent of its bonds denominated in dollars, and secured a guarantee from the International Monetary Fund (IMF) to begin renegotiating an agreement.
"This important step forward provides the opportunity for the government to articulate a broader plan to tackle various post-pandemic macroeconomic challenges, negotiate a new program with the IMF, and work to settle delays with the Paris Club," S&P Global said in a . . .