Argentina's credit rating rose to B- after Fitch Ratings' decision, driving the country risk down to 496 basis points on Monday, May 11. The indicator had not broken that level since late January.
The JP Morgan country risk index closed at 496 points on May 11, 2026. The drop followed Fitch's upgrade of the sovereign rating from CCC+ to B-.
Argentine bonds rallied and yields on the 2035 notes settled near 9.5%. The spread narrowed to levels unseen since February.
President Javier Milei and Economy Minister Luis Caputo have avoided issuing debt in international markets since the 2020 restructuring. Caputo said on May 6 that the government prefers cheaper financing before turning to the market.
Analysts such as Thierry Larose of Vontobel expect Argentina to seize the window in the second half of 2026, ahead of the 2027 elections.
