...BUENOS AIRES (S&P Global Ratings) Jan. 20, 2017--S&P Global Ratings today assigned its 'B-' issue rating on the Republic of Argentina's senior unsecured bonds for a total of US$7.0 billion. From the issued amount, US$3.25 billion is due in 2022, and the remaining US$3.75 billion is due in 2027. The government will use proceeds from the issuance for general purposes, as well as to refinance existing debt. The long-term rating on Argentina remains 'B-', with a stable outlook. The rating on the bond is the same as the long-term foreign currency sovereign credit rating on Argentina. The ratings on Argentina reflect the ongoing challenges to address the country's main problems, including high inflation, a large fiscal deficit, and economic contraction, while the administration of President Mauricio Macri lacks a majority in either chamber of Congress. Moreover, midterm Congressional elections in October 2017 make it hard for the Macri Administration to get support from other political parties...
