Argentina · Country watch
Country Risk Hits High; Neuquén Credit Rating Up
Argentina's country risk reaches an annual high, while Neuquén's credit rating improves due to Vaca Muerta's growth.
The picture Mixed How this is judged →
The business environment in Argentina is mixed today. The country's risk index reached an annual high, increasing investor caution, while Neuquén's credit rating improved, offering some positive outlook for lenders.
In this briefing Rama Caída · Country Risk Index · Neuquén · Vaca Muerta
Companies
Rama Caída Enters Preventive Bankruptcy
Mendoza-based cider manufacturer Rama Caída, founded in 1949, has entered preventive bankruptcy after defaulting on payments, according to La Gaceta. The company accumulated $2.542 billion in rejected checks and will now include an employee representative in the control committee overseeing the judicial process. This development highlights financial struggles within the company, which has been a significant player in the Argentine cider industry.
Impact Rama Caída's creditors and employees face uncertainty as the company enters preventive bankruptcy.
Sources: La Gaceta ↗
Markets
Country Risk Index Climbs to 939 Points
Part of: Argentina's Country Risk surges amid economic instability →
Argentina's country risk index rose to 939 points, marking its highest level in a year, as reported by El Dia. This increase reflects growing concerns over the country's economic stability. Concurrently, Argentine bonds experienced a decline on Wall Street, and the wholesale dollar continued its upward trend for the fourth consecutive week. The rising country risk index indicates increased perceived risk for investors holding Argentine assets.
Impact Investors holding Argentine bonds face higher risk premiums as the country risk index climbs to 939 points.
Sources: El dia ↗
S&P Upgrades Neuquén's Credit Rating
.jpg){kind=link}
S&P Global Ratings upgraded the individual credit profile of Argentina's Neuquén province from 'b-' to 'b+', citing the growth of the Vaca Muerta shale formation, improved liquidity, and effective debt management, El Economista reports. Despite this upgrade, the province's issuer rating remains at 'B-'. The Vaca Muerta formation continues to bolster Neuquén's economic outlook, contributing to the province's financial stability.
Impact Lenders to Neuquén benefit from improved creditworthiness as S&P upgrades the province's rating.
Sources: El Economista ↗
Nothing significant reported today in Regulation · Disruption · Internal tension · Safety & health · Trade · Politics.
Also today in the local press
- ¿Cómo prevenir riesgos climáticos en México? UNAM comparte avances para enfrentar fenómenos meteorológicos — Infobae
- Con el riesgo país en alza, el Gobierno identificó tres amenazas globales: qué factores preocupan al equipo económico — Infobae
- Francia registró una nueva jornada de disturbios con enfrentamientos y gases lacrimógenos en varias ciudades — La Derecha Diario
- Francia vivió su cuarto sábado consecutivo de protestas, con 146.000 manifestantes — El intransigente
- Luxon acepta negociar con Opportunity para asegurar el próximo Gobierno de Nueva Zelanda — Infobae
- Régimen acusa a las estaciones portátiles de agravar las averías en transformadores eléctricos — Infobae
- El riesgo país se calienta y los bonos se derriten — Perfil.com
- La economía suma tensión a las internas del Gobierno nacional y la Provincia — El dia
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.