Argentina and its bondholders continue to renegotiate the restructuring of foreign-currency foreign-law debt, as initial deadlines to finalize terms have been extended multiple times. The government did not pay about US$582 million in interest due on three foreign-law foreign-currency bonds with original payment dates at the end of June. In addition, interest payments of about $837 million on four U.S.-dollar Argentine-law bonds (subject to April's government decree 346/2020) were also not made. As a result, we have lowered our ratings on these seven bonds to 'D' from 'CC'. NEW YORK (S&P Global Ratings) July 1, 2020--S&P Global Ratings today lowered its ratings on seven of Argentina's U.S. dollar-denominated bonds to 'D' from 'CC'. Specifically, we downgraded to 'D' from 'CC'
