Milei’s shock therapy gets huge endorsement as sudden growth rebound seen

[MilHojas]

Javier Milei's free-market shock therapy to transform Argentina's economy gets huge endorsement as sudden growth rebound seen

Moody's upgraded Argentina one notch to Caa3 from Ca and boosted its outlook to positive from stable.

fortune.com

Archived version

https://finance.yahoo.com/news/argentina-wins-upgrade-moody-boost-215909699.html

The ratings company lifted the South American nation one notch to Caa3, the third-lowest level of junk and on par with Ecuador, Bolivia and Ethiopia, while raising the outlook to positive from stable, according to a statement on Friday.

Third-lowest level of junk, right there with Bolivia and Ethiopia. Time for a celebration!

 

[antipodean]

Javier Milei's free-market shock therapy to transform Argentina's economy gets huge endorsement as sudden growth rebound seen

Moody's upgraded Argentina one notch to Caa3 from Ca and boosted its outlook to positive from stable.

fortune.com

Archived version

https://finance.yahoo.com/news/argentina-wins-upgrade-moody-boost-215909699.html

Third-lowest level of junk, right there with Bolivia and Ethiopia. Time for a celebration!

Here is some historical data for context:

Argentina - Credit Rating

Standard & Poor's credit rating for Argentina stands at CCC with stable outlook. Moody's credit rating for Argentina was last set at Caa3 with positive outlook. DBRS' credit rating for Argentina was last reported at B (low) with stable outlook. In general, a credit rating is used by sovereign...

tradingeconomics.com

In the past 20 years Argentina only had a positive Moody's outlook at 4 moments... it doesn't mean much if anything against the test of time other than another "up" in never-ending rollercoaster is probably on the way and that an upgrade back to a B-something is more likely.