by Amruth Sundarkumar | Jan 27, 2023 | Sovereign Bonds, Sovereigns
Argentina’s planned $1bn bond buyback that was announced last week, would be tantamount to a “distressed exchange and hence a default” as per note by rating agency Moody’s. It noted that Argentina’s buyback would “at the cost of...
by Amruth Sundarkumar | Jan 19, 2023 | Sovereign Bonds, Sovereigns
Argentina’s dollar bonds were higher by over 1 point across the curve after the nation said it planned to repurchase about $1bn of debt. Their Economy Minister Sergio Massa said that they plan to buy some of its 2029s and 2030s. Bloomberg cites sources noting...
by Amruth Sundarkumar | Oct 31, 2022 | Sovereign Bonds, Sovereigns
Argentina’s Economy Minister Sergio Massa said that the country has reached an agreement with the Paris Club regarding $2bn of its outstanding debts. This agreement would help Argentinian firms to access credit from European institutions, he said. As per a...
by Amruth Sundarkumar | Oct 27, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Argentina was downgraded to CCC- from CCC by Fitch on the back of several factors. Fitch believes that the nation’s external liquidity position is weak and even its local-currency repayment capacity stands compromised. Its forex reserves have been under pressure...
by Amruth Sundarkumar | Sep 28, 2022 | Corporates, Sovereign Bonds, Sovereigns
Select corporates and provincial Argentine bonds have rallied this year, with a significant divergence being observed compared to bonds of the sovereign. While Argentina’s sovereign dollar bonds are down 35% YTD, those of state-owned energy company YPF are up...
