11/17/2023 0 Comments Manor matters levels answers![]() In the other, a group of investors led by NML Capital, a subsidiary of Elliot Capital Management, run by billionaire Paul Singer. Argentina hasn’t borrowed from the bond markets since its default in 2001.Ī: In one corner, Argentina’s government. ![]() But Argentina’s troubles are so well-known that the downgrade came as little surprise. It would inflate borrowing costs and make it harder to finance budgets. The next day, the rating agency Standard & Poor’s cut Argentina’s rating further into junk territory - to CCC-, S&P’s lowest grade for any country.įor most countries, the rating agency’s move would be a harsh blow. The decisions drove the country’s Merval stock index down 11 percent on Monday. courts to track down Argentina’s assets abroad. The Supreme Court also decided to let bondholders subpoena banks in U.S. Q: What happened after the Supreme Court turned Argentina down?Ī: A lot.
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