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DBRS Morningstar confirmed Argentina's foreign-currency issuer ratings at SD (selective default) and local-currency ratings at CC, with a stable trend on local ratings. The agency said restructuring talks over $66 billion of foreign-law bonds are nearing agreement, with a new exchange offer deadline of August 4.
Argentina's continued default and capital controls weigh on the peso and reduce foreign credit access, which can affect the peso's value against the dollar and Argentine import and export financing. For feed buyers, the direct grain price impact is limited, though currency weakness can shift Argentine soymeal and corn export pricing.
dbrs.morningstar.comThomas R. TorgersonJul 13, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
