Moody's downgraded the sovereign debt of Argentina


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International credit rating agency Moody's lowered Argentina's sovereign debt by one grade, from "B3" cut to "Caa1". After downgrade, Argentina's sovereign rating not only the same level with countries such as Cuba, Ecuador and Pakistan, and the outlook is still negative.
Argentina in last October 26, judged must repay the debt of 2001 financial crisis by United States Court. Given the huge size of the debt and the Argentine government has no less than once said will not accept everything, Moody's believes that Argentina's default risk is already elevated, Therefore decided to cut the country's debt credit rating.

By HPCforex.
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