Strike Won’t Trigger Argentina Downgrade: S&P

The long term sovereign rating of B+ (stable) that S&P has in Argentina is unlikely to be downgraded by the farmer’s strike. “Nothing has happened so far to change our minds,” says Joydeep Mukherji, an analyst at S&P. “The events that we have seen recently are consistent with a B+ rating.” The fiscal situation in the country, however, remains a key factor for the rating, according to Sebastian Briozzo, an S&P analyst in Buenos Aires. “The downside risk to the ratings of Argentina is more dependent on whatever happens to the fiscal situation, “Briozzo says.