Macroeconomy/Finance

Fitch downgrades Argentina’s rating from C to restricted default (RD)

The agency said in a statement that this happens after the authorities failed to pay interest on three sovereign bonds within the 30-day grace period, which expired on May 22. According to Fitch’s criteria, this means a default. Fitch recalls that the parties made progress; but also notes that there is uncertainty about the prospects for an agreement.

Source: Em.com

Categories: Macroeconomy/Finance