Argentina’s Provinces Eager to Avoid Default, S&P Says

Argentina’s provinces appear keen to avoid another debt restructuring, S&P analysts led by Constanza Perez Aquino write.

• Analysts argue that in the short term, some provinces will likely try to avoid default and a new restructuring given that it has only been three years since the last debt workout, S&P analysts led by Constanza Perez Aquino write
  • Restructuring resulted in a “significantly smoother debt service calendar than the original terms,” in 2022 and 2023
  • S&P estimates that for 2024 the provinces’ expected debt payments of $2 billion is 20% lower than what the prior terms implied
  • NOTE: Feb. ...