DBRS Morningstar Upgrades Argentina to CCC from SD

DBRS, Inc. (DBRS Morningstar) upgraded the Republic of Argentina’s Long-Term Foreign Currency – Issuer Rating to CCC from Selective Default (SD) and Short-Term Foreign Currency – Issuer Rating to R-5 from SD. DBRS Morningstar also upgraded the Republic of Argentina’s Long-term Local Currency – Issuer Ratings to CCC (high) from CC and confirmed the Short-Term Local Currency – Issuer Rating at R-5. The trend on all Issuer Ratings is Stable. In addition, DBRS Morningstar has discontinued and withdrawn ratings on all of the Republic’s bonds that were eligible for restructuring.