...- On Aug. 29 and 30, 2019, we revised the ratings on Argentina after the unilateral extension of the maturities of all short-term paper, given the continued inability to place short-term paper with private-sector market participants, and the announcement that the administration will send legislation to Congress to engage a re-profiling of the remaining debt. According to our criteria, we considered the extension of maturities of short-term debt with no compensation as a default. - The sovereign credit ratings on Argentina are now at ###-/Negative/C. At the same time, we revised downwards our transfer and convertibility (T&C) assessment on Argentina to 'B-' from 'B', which is higher than the sovereign long-term rating because the government aims to avoid capital controls and preserve its international reserves. - Following these developments, we're keeping our long-term ratings on all rated banks in the country at 'B-', at the same level as the new T&C assessment. At the same time, we're...
