Moody’s reports worsening financing conditions for companies

According to a report by the US consulting firm Moody’s, the COVID crisis and the fragile economic situation will increase the problems for corporate credit in most sectors in Argentina, at least until mid-2021. The document points out that the restructuring of the foreign debt could give some relief to the situation, but it clarifies: The tense fiscal accounts of the Government limit its capacity to support the business sector. The financial trap puts at risk the possible debt renegotiations of the provinces, which in many cases are already close to materializing. The companies that have been affected are Banco Hipotecario, which faces capital maturities of around $280 million on 11/30 this year, and IRSA, with $181 million by 11/15.

Source: Ámbito