Argentine bonds reverse gains after debt case hearing

BUENOS AIRES, July 22 Tue Jul 22, 2014 1:06pm EDT

BUENOS AIRES, July 22 (Reuters) - Argentine over-the-counter bonds reversed gains on Tuesday after a U.S. judge said there was no need to suspend his ruling in Argentina's legal battle against holdout investors in order for them to reach settlement.

Argentina's dollar-denominated 2023 Par was down 0.3 percent while the dollar-denominated Discount 2033 fell 1.25 percent, Reuters data showed.

Argentina had been asking for a stay of the ruling which gives it until July 30 to pay holdout investors in full. If the country does not pay up or reach a negotiated settlement with the holdouts, it faces default. (Reporting by Jorge Otaola,; Writing by Sarah Marsh; Editing by Richard Lough and Meredith Mazzilli)

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