DBRS Morningstar Upgrades Argentina to CCC from SD
DBRS, Inc. (DBRS Morningstar) upgraded the Republic of Argentina’s Long-Term Foreign Currency – Issuer Rating to CCC from Selective Default (SD) and Short-Term Foreign Currency – Issuer Rating to R-5 from SD. DBRS Morningstar also upgraded the Republic of Argentina’s Long-term Local Currency – Issuer Ratings to CCC (high) from CC and confirmed the Short-Term Local Currency – Issuer Rating at R-5. The trend on all Issuer Ratings is Stable. In addition, DBRS Morningstar has discontinued and withdrawn ratings on all of the Republic’s bonds that were eligible for restructuring.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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