Argentine Banks Upgraded To 'B-' On Lower Risk To Foreign Currency Access; Outlook Stable

On Feb. 5, 2025, S&P Global Ratings affirmed its 'CCC/C' long- and short-term foreign and local currency sovereign credit ratings on Argentina. The outlook on the long-term ratings remains stable. At the same time, we revised up our transfer and convertibility (T&C) assessment of Argentina to 'B-' from 'CCC' based on our perception of modestly diminished risk of the sovereign interfering with the ability of domestic entities to access, convert, and transfer money abroad. After these actions, we raised our long-term issuer credit rating on Banco De Galicia Y Buenos Aires S.A.U. (Banco Galicia) to 'B-' from 'CCC', senior unsecured debt rating to 'B-' from 'CCC', and our subordinated debt rating to 'CCC' from 'CC'. At the same time, we

...Argentina To From BICRA group 9 9 Economic risk 10 10 Economic resilience Extremely high risk Extremely high risk Economic imbalances Very high risk Very high risk Credit risk in the economy Very high risk Extremely high risk Industry risk 7 7 Institutional framework High risk High risk Competitive dynamics High risk High risk Systemwide funding High risk Very high risk Economic risk trend Positive Stable Industry risk trend Stable Negative...

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