S&P might lower Argentina

S&P said it placed its B+ long-term and B short-term sovereign credit ratings on Argentina on CreditWatch with negative implications.

At the same time, the agency placed the raAA national scale rating on CreditWatch negative and affirmed the BB- transfer and convertibility assessment.

“The CreditWatch negative reflects the risk of worsening creditworthiness due to potentially weakened implementation of the government's strategy to stabilize the economy,” the agency said in a news release.

“Exchange rate volatility, as shown by recent pressure on the Argentine currency, could jeopardize the effective implementation of economic adjustment measures, absent further steps to boost investor confidence.”

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