...August 5, 2020 NEW YORK (S&P Global Ratings) Aug. 5, 2020--On Aug. 4, the Republic of Argentina and key creditors both issued press releases signaling that they had reached an agreement to restructure Argentina's foreign currency foreign law debt. Progress on and resolution of the restructuring allow the government to pivot its focus directly on bolstering Argentina's low growth trajectory and tackling high levels of inflation. Similarly, the resolution plan allows creditors to hold bonds that would be current on paying debt service. However, our '##' (selective default) ratings on Argentina remain unchanged, pending the formal conclusion and settlement of the restructuring. The announcement came after multiple extensions since the government's initial offer was launched by President Alberto Fernßndez and Finance Minister Martfn Guzman in April, at that time with an initial deadline of early May. As the Aug. 4 deadline on the latest July offer approached, negotiations shifted to an even...
