Moody's upgrades Argentina to Caa1 - here's what it means for your portfolio
Key Points
- Argentina's credit rating was upgraded by Moody's from Caa3 ...
Argentina just got a pat on the back from Moody's, who upgraded the country's credit rating from Caa3 to Caa1. Before you pop the champagne though, let's be clear: this is like upgrading from "absolutely terrible" to "still pretty bad but slightly less concerning." The rating remains firmly planted in junk territory, which means Argentina is still the friend who always promises to pay you back but has a colorful history of creative excuses.
Baby Steps in the Right Direction
Moody's pointed to some genuinely positive developments that sparked this upgrade. The country has improved its curr...
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