Argentina: Credit Rating Boosted

Argentina’s credit rating was raised six levels by Standard & Poor’s to B-, clearing the way for the country to borrow again on international capital markets more than three years after defaulting on almost $100 billion of debt. Argentina has given signals that it’s preparing a return to the bond market as it nears completion of a restructuring of the defaulted debt. Finance Secretary Guillermo Nielsen told reporters on May 13 that the government “could go back to the markets sooner than people expect.”