Moody’s lowers Argentina’s foreign currency bonds’ ceiling to b3 from b2

Moody’s lowers Argentina’s foreign currency bonds’ ceiling to b3 from b2

Although the agency acknowledges that the Argentine Central bank currently allows the purchase of foreign currency to service bonds issued according to international Law and payable overseas, the growing restrictions in access to foreign currency for servicing domestic debt makes availability of funds for honouring debt overseas even more uncertain”, reads the brief announcement.