Argentina: Standard and Poor’s issues warning on debt

Standard & Poor’s said yesterday that unless Argentina and holdout bond investors reach a payment agreement on defaulted debt from 2002 its B-minus credit rating on the South American nation is at risk of a downgrade. On Nov. 29 the US 2nd Circuit Court of Appeals granted an emergency stay on a lower court’s order that Argentina transfer into an escrow account for holdout investors a payment of $1.33 billion by Dec. 15. Read Article