LatinNews Daily - 28 September 2022

In brief: Moody’s maintains Argentina’s credit rating

* International credit ratings agency Moody’s has affirmed Argentina’s foreign currency and local currency long-term issuer and senior unsecured ratings at Ca (highly speculative), noting that the outlook remains stable. A Moody’s statement noted that “the decision to affirm the Ca ratings balances Argentina’s limited market access, weak governance, and history of recurrent debt restructurings with recent efforts to marshal fiscal and monetary measures to start addressing underlying macroeconomic imbalances in the context of the IMF [International Monetary Fund] program that was approved earlier this year.”

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