The BCRA's sales to support the price of the official dollar caused International Reserves to fall $66 million on Tuesday, reaching $42.98 billion. In May, the entity lost $594 million.
Unlike the expiration of the "Global 21, 26 and 46" on May 22 for about $503 million; the "Discounts" bonds that expire in June, with a grace period until July, establish that if Argentina does not pay, the creditors have 100% enabled the possibility of advancing in lawsuits for billions of dollars. The difference between the Global bonds and the Discount bonds in real and fast chances of litigation against the country is evident.
There are 30 million tons of soybeans and corn sold up to the first week of May against 25 million in the same period in 2019. Producers accelerated sales due to fears of a rise in retentions, something that finally did the current government by increasing first from 24.7% to 30% retentions on soybeans and then to 33%. Worrying is the downward trend in the price of corn because it will impact the decision of the next planting.
Amid the global economic crisis resulting from the Covid-19, the shares of the company founded by Marcos Galperin closed on Tuesday for $806 on the U.S. Stock Exchange, recording a record market value of more than $40 billion. The multiplication of online sales during the quarantine and the use of electronic payments boost the Mercado Libre business.
Moody's Investors Service, ("Moody's") today assigned a Caa3 rating to Aeropuertos Argentina 2000 S.A. (AA2000) new senior secured exchange notes; affirms outstanding ratings with a negative outlook. AA2000 offered to exchange the outstanding $350 million 6.875% Senior Secured Notes due in 2027 for newly issued 6.875% Cash/9.375% PIK Class I Series 2020 Additional Senior Secured Notes due in 2027.