...OVERVIEW + Argentina plans to issue global bonds for around US$15 billion whose proceeds will be used to pay holdout creditors from its 2001 default and for general financing purposes. + We assigned a 'B-' global scale issue rating on the global bonds, although Argentina's long-term foreign currency sovereign credit rating remains '##' (selective default). + Once Argentina cures its 2014 debt default, we expect to assign a new global scale foreign currency sovereign credit rating, subject to our assessment of any lingering legal threats that could impair future debt service. + We are also affirming and changing to "solicited" from unsolicited the 'B-' and '##' local and foreign currency sovereign credit ratings on Argentina. In addition, we are affirming our 'B-' transfer and convertibility (T&C) assessment. + The outlook on the local currency rating is stable, balancing the recent improvement in economic policies by the Macri Administration with the significant political and economic challenges...
