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Sovereign ratings wrap: S&P lifts Argentina from Selective Default

S&P Global Market Intelligence presents a summary of ratings actions on sovereigns and other key territories from Dec. 30, 2019, to Jan. 5, 2020.

AMERICAS

* S&P Global Ratings upgraded Argentina's long- and short-term foreign-currency sovereign credit ratings to CC/C from Selective Default, with a negative outlook, following the government's successful auctions of 18.85 billion pesos in local currency-denominated debt and payment of a 24.3 billion peso local bond. The negative outlook reflects downside risks to timely and full payment of debt over the coming months in a stressed economic environment, the rating agency said. S&P Global Ratings affirmed the country's local-currency ratings at CC/C.

As of Jan. 3, US$1 was equivalent to 59.76 Argentine pesos.

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