These 16 Argentina Corporations Are On The Cusp Of Default [Forbes]
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These 16 Argentina Corporations Are On The Cusp Of Default Unless you saw this coming, 16 Argentina corporates are about to see their bond values sink before the market closes today. Fitch ratings downgraded a host of Argentina companies on Wednesday, most of them dependent on government hand-outs. Here's the list: Rio , UGEN, UENSA (MSU ) The downgrades follow Fitch's recent downgrade of Argentina's sovereign rating to CCC — which means a high default probability. is one of the better known names on the list. Fitch lower its credit rating from B to CCC today, suggesting their long-term debt load of around $7 billion is at risk of default over the next 12 months. AES Argentina is also now in CCC territory. The company is a subsidiary of U.S. power group AES Corp. They run around 10 power plants in Argentina. The entire power sector in Argentina is heavily reliant on government subsidies for survival. And Argentina is running out of money. Its central bank has around
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News
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- AES Corp (NYSE: AES) had its price target raised by analysts at Morgan Stanley from $18.00 to $18.50. They now have an "overweight" rating on the stock.MarketBeat
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AES
SEC Filings
- 6/24/20 - Form 11-K
- 6/23/20 - Form 8-K
- 6/23/20 - Form 11-K
- AES's page on the SEC website
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