S&P downgraded Mexico’s credit rating on Thursday as the coronavirus pandemic and a hit to state oil firm Pemex from plunging crude prices battered the growth outlook and piled pressure on the government to lift the struggling economy.
S&P Global Ratings raised its debt grade for Argentina on Tuesday, acknowledging the agency made a mistake when it changed the rating in late December for the crisis hit country.
The Brazilian government’s commitment to getting public finances in order and maintaining strict fiscal discipline will lead to the country’s sovereign credit rating being upgraded, Treasury Secretary Mansueto Almeida said on Thursday.
Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date slide to 36%, forcing renewed central bank market intervention and intensifying worries about Argentina’s ability to honor its dollar-denominated debt.
Credit risk agency Standard & Poors announced on Thursday that it was slashing Argentina’s long-term credit rating another three notches into the deepest area of junk debt, saying the government’s plan to “unilaterally” extend maturities had triggered a brief default.
Standard & Poor's (S&P) confirmed it would maintain its 'B' rating for Argentine debt, highlighting that the president Mauricio Macri administration was continuing to meet the goals laid out by the International Monetary Fund (IMF) as part of the huge credit line agreed last year.
A report issued by the United States Department of State on the investment climate in Uruguay on Monday analyzed the legal, political and economic aspects of the country. On the one hand, it stands the legal security, the free movement of capital, the preferential regimes and the investment grade. On the other, it warns about aspects such as labor relations, the power of unions, the advantage of public companies and the increase of problems in education and security.
Rating agency Standard & Poor’s (S&P) slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances.
Standard & Poor's on Monday downgraded Argentina's sovereign long term credit rating from “B+” to “B” and reviewed the country's debt prospects to “stable”, following on the “negative” review from last August.
Standard & Poor’s on Friday left Italy’s sovereign debt rating unchanged but lowered its outlook to negative from stable, saying that the new government’s policy plans were weighing on the country’s growth and debt prospects.