Rating agency Standard & Poor’s raised Argentina’s sovereign debt rating from CCC+ to B- on Thursday, June 11, 2026, triggering sharp gains in stocks and bonds and cutting country risk to its lowest level since 2018.
The rating improvement was attributed to progress on fiscal austerity and increased foreign currency purchases by the Central Bank. Standard & Poor’s followed a similar move by Fitch Ratings early in May.
Argentine ADRs rose as much as 14.3 percent, led by BBVA. The S&P Merval index gained 6.4 percent to 3,354,282 points. Country risk, measured by J.P. Morgan, closed at 443 basis points after an 11.9 percent drop.
Emilio Botto of Mills Capital said the change reduces the probability of negative events such as default and strengthens the shift toward stabilization. The official dollar at Banco Nación traded at 1,400 pesos for purchase and 1,450 for sale.
