Credit rating agency Moody’s raised Argentina’s sovereign debt rating and upgraded its outlook on the country from stable to positive, citing lower default risk and “improving governance.”
On Tuesday, the agency upgraded the government of Argentina’s long-term local and foreign-currency issuer ratings from Caa1 to B3.
Argentine Economic Policy Secretary José Luis Daza highlighted that the new rating is equivalent to the B- rating from agencies Fitch and S&P, meaning that the three main raters “are now aligned on a B- rating for over a decade.”
He added that “thousands” of institutional investment mandates requiring ratings from two or three agencies, or based on an average rating, now have the “green light” to invest in Argentina.
Moody’s rating
