Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues - S&P Global Ratings’ Credit Research

Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues

Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues - S&P Global Ratings’ Credit Research
Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues
Published Jul 28, 2020
4 pages (1935 words) — Published Jul 28, 2020
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Negotiations remain open since Argentina announced adjusted terms on its restructuring proposal to bondholders on July 5 and established an Aug. 4 deadline to accept the revised offer. Amid these ongoing negotiations, the government did not pay about US$220 million in interest due on two foreign-law foreign currency bonds due July 26, with applicable payment dates of July 27. We are lowering the issue ratings on these bonds to 'D' from 'CC'. There is no outlook on the 'D' issue ratings. NEW YORK (S&P Global Ratings) July 28, 2020--S&P Global Ratings today said it lowered its issue ratings on two of Argentina's foreign currency-denominated bonds, BIRADs due January 2022 and January 2027, to 'D' from 'CC'. These are New York-law

  
Brief Excerpt:

...July 28, 2020 - Negotiations remain open since Argentina announced adjusted terms on its restructuring proposal to bondholders on July 5 and established an Aug. 4 deadline to accept the revised offer. - Amid these ongoing negotiations, the government did not pay about US$220 million in interest due on two foreign-law foreign currency bonds due July 26, with applicable payment dates of July 27. - We are lowering the issue ratings on these bonds to 'D' from '##'. - There is no outlook on the 'D' issue ratings. NEW YORK (S&P Global Ratings) July 28, 2020--S&P Global Ratings today said it lowered its issue ratings on two of Argentina's foreign currency-denominated bonds, BIRADs due January 2022 and January 2027, to 'D' from '##'. These are New York-law U.S. dollar-denominated bonds that had a total of about US$220 million in interest due July 26, 2020, and an applicable payment date of July 27. Other similar bonds we already lowered to 'D' include the BIRADs due 2021, 2026, January 2028, July...

  
Report Type:

Ratings Action

Ticker
1310Z@AR
Issuer
Argentina
Sector
Global Issuers, Structured Finance
Country
Argentina
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues" Jul 28, 2020. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Argentina-s-Foreign-Currency-Bonds-Due-January-2022-And-2027-Downgraded-To-D-On-Nonpayment-As-Restructuring-Continues-2486339>
  
APA:
S&P Global Ratings’ Credit Research. (). Argentina's Foreign Currency Bonds Due January 2022 And 2027 Downgraded To 'D' On Nonpayment As Restructuring Continues Jul 28, 2020. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Argentina-s-Foreign-Currency-Bonds-Due-January-2022-And-2027-Downgraded-To-D-On-Nonpayment-As-Restructuring-Continues-2486339>
  
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