The Argentine Supreme Court has ruled to redollarize the deposits from the province of San Luis in Banco Nación. The ruling does not apply to individual depositors, and therefore has no immediate effect on the financial system as a whole or on Standard&Poor's Ratings Services' ratings on Argentine banks, which are all currently 'SD'. It is, however, a precedent and a clear sign of what can be expected when the Supreme Court rules in the case of individual depositors, although this is an event that will probably have to be faced by the new administration, expected to take over next May. Immediately, legal injunctions allowing individual depositors to withdraw funds at the free exchange rate are expected to
