...- On May 8, 2020, S&P Global Ratings revised its transfer and convertibility (T&C) assessment of Argentina to '###+' from 'B-'. The ongoing debt restructuring negotiations with international bondholders and the COVID-19 pandemic continue to weigh on Argentina's economy and local financial market conditions. Because of this, and the increased pressures on official and various market exchange rates in recent weeks, the central bank has tightened aspects of regulation to access foreign exchange at the official rate. - As a result, we're lowering our long-term ratings on three domestic banks to '###+', the same level of our T&C assessment, from 'B-'. The T&C assessment reflects our view of the likelihood of a sovereign restricting domestic entities' access to foreign exchange needed to meet their debt service obligations. At the same time, we're affirming our '###' ratings on Banco Hipotecario. - The outlook on the four banks remains negative, reflecting Argentina's economic malaise and its...