Argentina Dollar Bonds Jump as S&P Raises Rating to B-
Updated
Updated · Bloomberg · Jun 10
Argentina Dollar Bonds Jump as S&P Raises Rating to B-
3 articles · Updated · Bloomberg · Jun 10
Summary
Argentina’s dollar bonds rallied across the curve after S&P lifted the sovereign rating to B-, the country’s second credit upgrade in less than two months.
2035 global bonds — a benchmark for Argentina’s international debt — climbed as much as 2.9 cents to 79.4 cents on the dollar, a record high for the notes issued in 2020.
Medium-term 2030 notes also advanced, gaining more than 1.2 cents as the upgrade boosted investor confidence in the country’s credit outlook.
The move marks another market win for President Javier Milei, extending a rebound in Argentina’s hard-currency debt as ratings agencies turn more positive.