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RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires

 
Strongman Shelford
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07/30/2014 05:35 PM
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RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
Argentina’s credit rating was downgraded to “selective default” by Standard & Poor’s as the South American country missed Wednesday’s deadline for a grace period during ongoing negotiations with holdout debt holders.

Wednesday is the cutoff for Argentina to make good on a $539 million payment to bondholders, which was placed on hold by a US judge’s order tying that payment to ongoing litigation by vulture funds which refused the country’s original cents-on-the-dollar debt restructuring offer.

Analysts generally do not believe that a default by Argentina will have the same consequences as in 2001.

“An Argentina default is expected to be short-lived at this point and shouldn’t have any major implication for the country,” said Mauro Roca to Bloomberg, a senior Latin America economist at Goldman Sachs in New York.

“There’s the expectation that a deal with holdouts will be worked out soon.”

The country’s Economy Minister Axel Kicillof arrived in New York this week to engage in negotiations with holdout creditors. The talks have been overseen by a mediator appointed by the US judge who placed its payment on hold.

[link to rt.com]

MORE TO FOLLOW SOON

#argentinadefault

Last Edited by Strongman Shelford on 07/30/2014 05:43 PM
Strongman is back. Economic disinfo won´t be tolerated.
Opinions from the latin bank analyst who has already been in hyperinflation, bank meltdown, BANk runs... and economic SHTF ...several times.
Founder of www.silvertardsweride.com
Strongman Shelford (OP)

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07/30/2014 05:37 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
INMINENT PRESS CONFERENCE OF ARGENTINIAN ECON MINISTRY SOON.


Kicillof to hold New York press conference shortly
[link to www.buenosairesherald.com]
Strongman is back. Economic disinfo won´t be tolerated.
Opinions from the latin bank analyst who has already been in hyperinflation, bank meltdown, BANk runs... and economic SHTF ...several times.
Founder of www.silvertardsweride.com
messi17

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France
07/30/2014 05:37 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
explosion
man
Strongman Shelford (OP)

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Argentina
07/30/2014 05:39 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
explosion
 Quoting: messi17


an argentinian private banks purchase offer last hour deal was in placed. so far no news about it yet. inminent press conference coming with the details of today negotiations.

Last Edited by Strongman Shelford on 07/30/2014 05:40 PM
Strongman is back. Economic disinfo won´t be tolerated.
Opinions from the latin bank analyst who has already been in hyperinflation, bank meltdown, BANk runs... and economic SHTF ...several times.
Founder of www.silvertardsweride.com
Strongman Shelford (OP)

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Argentina
07/30/2014 05:46 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
Argentine default 101: What you need to know

[link to www.cnbc.com]
Strongman is back. Economic disinfo won´t be tolerated.
Opinions from the latin bank analyst who has already been in hyperinflation, bank meltdown, BANk runs... and economic SHTF ...several times.
Founder of www.silvertardsweride.com
Anonymous Coward
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Finland
07/30/2014 05:57 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
so this will affect Argentina.. too bad.
Strongman Shelford (OP)

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Argentina
07/30/2014 06:00 PM
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Re: RUSSIA TODAY: Argentina placed into ‘default’ rating as debt deal deadline expires
so this will affect Argentina.. too bad.
 Quoting: Anonymous Coward 46117052


yup.
we are in an bearish trend for economic growth already.
Strongman is back. Economic disinfo won´t be tolerated.
Opinions from the latin bank analyst who has already been in hyperinflation, bank meltdown, BANk runs... and economic SHTF ...several times.
Founder of www.silvertardsweride.com

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