...- On Aug. 16, 2019, we lowered our global scale ratings on Argentina to 'B-' from 'B', reflecting further weakening of the sovereign's already vulnerable financial profile as a result of the pronounced financial market turbulence following primary elections. The sharp depreciation of the currency and spike in interest rates make economic scenario more complex with a deeper, prolonged recession, even higher inflation and more stressed debt and financing dynamics. - We're downgrading three banks to 'B-' from 'B' and assigned a negative outlook. We're also affirming our 'B-' ratings on another bank and revised the outlook on it to negative from stable. - We're keeping our Banking Industry Country Risk Assessment (BICRA) on Argentina at group '8' and the anchor (average risk) for banks operating in the country at 'b+'. However, we're revising the economic risk trend to negative, incorporating potential impact of the worsening economic conditions....
