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Prospect News home > News index > List of issuers E > Headlines for Entre Rios > News item
Published on 3/30/2021 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Fitch upgrades Entre Rios

Fitch Ratings said it upgraded the Province of Entre Rios' long-term foreign and local currency issuer default ratings to CC from RD. Additionally, Fitch raised Entre Rios's stand-alone credit profile to cc from rd.

Additionally, Fitch has withdrawn the D rating on Entre Rios's 8¾% senior notes due 2025 following the recent conclusion of its debt restructuring process.

“The upgrade of Entre Rios's ratings to CC reflects the completion of the distressed debt exchange (DDE) on its senior unsecured notes for $500 million. Fitch believes the formalization and operation of the respective agreements, which amends the original terms and conditions of these debt instruments, has cured the province's restricted default situation,” Fitch said in a news release.


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