S&P cuts Argentina's sovereign rating to CCC-plus from B-minus
NEW YORK, Sept 10
NEW YORK, Sept 10 (Reuters) - Standard & Poor's on Tuesday cut its long-term sovereign foreign currency credit rating on Argentina to CCC-plus from B-minus in the wake of a U.S. appeals court upholding an order for Buenos Aires to pay holdout investors on unrestructured debt.
The outlook on the credit remains negative, the firm said in a statement. The firm also lowered its unsolicited short-term ratings on Argentina to C from B.
The U.S. Second Circuit Court of Appeals upheld a lower court's ruling but put a stay on the order pending an appeal to the U.S. Supreme Court.
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