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Argentina wards off ratings downgrade after U.S. bailout deal, Fitch says.
Argentina avoided a Fitch Ratings downgrade due to a $20B U.S. currency stabilization agreement.
KEY POINTS
- Fitch clarifies the U.S. agreement stabilizes Argentina’s international reserves temporarily.
- The aid does not justify a ratings upgrade unless Argentina also implements broader financial reforms.
- Argentina's Merval Index and U.S.-traded Argentine stocks rose after announcement of the agreement.
COMPANIES
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