June 4, 2020 / 4:30 PM / a month ago

BRIEF-Moody's Says Argentine Provinces And Municipalities Face Elevated Foreign Currency Debt Service And Spending Challenges Amid COVID-19

June 4 (Reuters) - Moody’s:

* MOODY’S SAYS ARGENTINE PROVINCES AND MUNICIPALITIES FACE ELEVATED FOREIGN CURRENCY DEBT SERVICE AND SPENDING CHALLENGES AMID COVID-19

* MOODY’S SAYS QUARANTINE MEASURES IN RESPONSE TO COVID-19 OUTBREAK WILL INTENSIFY ARGENTINA’S ECONOMIC DOWNTURN

* MOODY’S SAYS ARGENTINA’S SEVERE ECONOMIC CONTRACTION WILL WEIGH ON ALREADY WEAK REGIONAL AND LOCAL GOVERNMENT REVENUE INTAKE

* MOODY’S SAYS INCREASED REFINANCING RISK WILL TRIGGER DEBT RESTRUCTURING NEGOTIATIONS FOR MARKET-BASED DEBT FOR ARGENTINE PROVINCES Source text for Eikon:

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