July 1 Standard & Poor's placed Argentina's
'CCC-/C' unsolicited long- and short-term foreign currency
ratings on "CreditWatch" with negative implications, citing
likelihood of a default in interest payments.
"The CreditWatch placement reflects our view of at least a
one-in-two probability that Argentina will not pay the
outstanding $539 million interest payment on the discount bonds
within the 30-day grace period," S&P said on Tuesday. (bit.ly/1sVjSFv)
The ratings agency also affirmed its 'CCC+/C' long- and
short-term local currency sovereign credit ratings and 'raBB+'
national scale rating on Argentina.
S&P maintained its negative outlook on the country's
long-term local currency rating.
(Reporting by Devika Krishna Kumar in Bangalore; Editing by