Rizobacter, an Argentine agricultural microbiology company and subsidiary of Bioceres, a provider of crop productivity solutions, obtained $15 million in Series III Negotiable Obligations (ON) with an 18-month term and a nominal annual interest rate of 4.73%. It was one of the few companies that obtained an improvement in its credit rating based on excellent financial performance. The company has grown in sales, not only in Argentina but also internationally.
A Moody’s report said that “the coronavirus will deepen Argentina’s crisis, keeping liquidity risk high for the country’s 26 rated non-financial, utility and infrastructure companies. According to the U.S. rating agency, Argentina’s GDP will fall 8% this year, and inflation will be 45%.