S&P lifts Argentina rating, sees nation more able to repay debt

S&P Global Ratings lifted Argentina’s credit score by a notch, saying that improved economic metrics and the governments increased congressional support make it better able to service its debts. 

The rating agency raised the nation’s score to 'CCC+', seven notches below investment grade, it said in a statement on Wednesday. The outlook is stable. 

Investors have doubled down on their bullish bets on Argentina’s debt since the October midterm elections, wagering the strong showing for President Javier Milei’s party will lead to broad legislative support for his market-friendly reforms.

“A stronger political standing following recent midterm elections and declining economic imbalances, thanks to lower inflation and a fiscal surplus during 2025, have improved the Argentine government’s access to liquidity,” analysts led by Joydeep Mukherji wrote. “Such developments improve creditworthiness and could reduce the likelihood of a conventional default.” 

S&P’s score for Argentina is now on a par with Moody’s Ratings and Fitch Ratings. 

The nation’s bonds have returned almost 29 percent since the congressional vote, the best performance in a Bloomberg index of peers, data shows. The latest leg of the rally came after authorities announced a plan to loosen restrictions on currency trading this week.