In a historic turn that marks the end of financial marginalization for the Republic, the international rating agency S&P Global Ratings decided this Wednesday to upgrade the sovereign rating of Argentina, moving from CCC+ to B- with a stable outlook. This substantial improvement, communicated following the efforts of Minister "Toto" Caputo, formally implies the exit from the category associated with a very high risk of debt default, positioning the country in a new tier of solvency in the eyes of the world.
The agency's decision —one of the three major powers in the sector alongside Moody’s and Fitch— is based on the strength of the policies implemented by the administration of Javier Milei. According to the S&P report, the upgrade in the rating is the direct result of a combination of virtuous factors: the consolidation of fiscal balance, the reduction of macroeconomic imbalances, the deceleration of inflation, and a gradual improvement in external liquidity. The rating agency was emphatic in stating that “The accumulation of international reserves and continued fiscal surpluses strengthened the Government's liquidity profile”.
In particular terms, the libertarian management has achieved what seemed impossible: expanding funding sources to shield the country against the debt maturities expected for the years 2026 and 2027. Among the tools that guarantee this new horizon of stability, the following stand out:
The successful issuance of dollar bonds in the local market.
The strategic financing agreements with international banks.
