June 16, 2014 / 2:27 PM / 3 years ago

Argentina country risk jumps after US top court rejects bond appeal

BUENOS AIRES (Reuters) - Argentina’s country risk, as measured by the J.P. Morgan EMBI+ Index, rose over 60 basis points on Monday after the U.S. Supreme Court declined to hear its appeal over its bid to avoid paying $1.33 billion to hedge fund creditors.

Argentina was contesting an August 2013 ruling by the 2nd U.S. Circuit Court of Appeals in New York in a decade-long legal battle with bondholders who rejected the country’s two debt-restructuring offers after the country defaulted on roughly $100 billion in 2001.

Reporting by Buenos Aires newsroom; Editing by Chizu Nomiyama

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