国际评级：安融（香港）评级确认阿根廷共和国“CCC”国际评级；展望:稳定
国际评级：安融（香港）评级确认阿根廷共和国“CCC”国际评级；展望:稳定
2024年12月5日，中国香港。安融（香港）评级确认阿根廷共和国（简称“阿根廷”）的长期主体评级为“CCC”，展望为“稳定”。
评级结果肯定了阿根廷的经济规模较大，国民收入水平较高，债务重组与谈判持续推进，近期违约风险有所缓解；同时也关注了阿根廷政府治理效率较低，陷入弱治理与经济衰退的恶性循环，外汇储备薄弱，经济波动较大，通胀水平持续高企。
关键评级观点
优势
阿根廷的经济规模较大，国民收入水平较高；
债务重组与谈判持续推进，阿根廷近期违约风险有所缓解。
关注
阿根廷政府治理效率较低，陷入弱治理与经济衰退的恶性循环；
阿根廷外汇储备薄弱；
阿根廷经济波动较大，通胀水平持续高企。
评级展望
米莱政府推行财政紧缩政策，在降低通胀和稳定经济方面取得一定进展，但改革前景仍存在不确定性。综合考虑，安融（香港）评级授予阿根廷的信用评级展望为稳定。
注：
1、上述评级均为主动评级。
2、本文译自英文版新闻稿。若有分歧，以英文版为准。
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相关信用评级委员会召开日期：2024年12月5日
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本次评级依据评级对象已经正式对外公布的信息，相关信息的合法性、真实性、完整性、准确性和及时性由评级对象及其信息发布方负责。安融(香港)评级按照相关性、及时性、可靠性的原则对评级信息进行了审慎分析，但对上述信息的合法性、真实性、完整性、准确性和及时性不作任何保证。评级结果未考虑无法获取的可能对信用等级有重要影响的非公开资料。
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ARHK Affirms ‘CCC’ International Rating to the Republic of Argentina, Outlook Stable
5 December 2024
Hong Kong, December 5, 2024. ARHK has affirmed an international scale long-term issuer credit rating of ‘CCC’ to the Republic of Argentina (hereinafter referred to as ‘Argentina’), with a stable outlook.
The rating results confirm Argentina's large economic scale, high national income level, and the continued progress of debt restructuring and negotiations, with recent alleviation of default risks; it also notes the low efficiency of the Argentine government's governance, trapped in a vicious cycle of weak governance and economic recession, weak foreign exchange reserves, significant economic volatility, and persistently high inflation levels.
KEY RATING PERSPECTIVES
Strengths
Argentina has a large economic scale and a high national income level.
Debt restructuring and negotiations are progressing, with recent alleviation of Argentina's default risks.
Weaknesses
The Argentine government has low governance efficiency and is trapped in a vicious cycle of weak governance and economic recession.
Argentina's foreign exchange reserves are weak.
Argentina experiences significant economic volatility, with persistently high inflation levels.
RATING OUTLOOK
The Millet government has implemented fiscal austerity policies, achieving some progress in reducing inflation and stabilizing the economy, but the prospects for reform remain uncertain. Taking all factors into consideration, ARHK assigns a stable outlook to the credit rating of Argentina.
NOTE:
1. The above ratings are all unsolicited credit ratings.
2. The Chinese version of this article is translated from the English version of the press release. In case of discrepancies, the English version shall prevail.
ANALYST CONTACTS
Analyst
Lam Yui Ying
Committee Chair
James Hu
Media Contact
Rating Services Contact
Lam Yui Ying
Date of Relevant Rating Committee: 5 December 2024
Additional information is available on www.arrating.com
Related Criteria
Sovereign Credit Rating Methods and Models (28 November 2024)
DISCLAIMER
This rating is based on information officially released to the public by the rated objects. The legality, authenticity, completeness, accuracy, and timeliness of the relevant information are the responsibility of the rated objects and its information publishers. ARHK has conducted a prudent analysis of the rating information based on the principles of relevance, timeliness, and reliability, but does not guarantee the legality, authenticity, completeness, accuracy, and timeliness of the above information. The rating results did not take into account non-public information that may have a significant impact on the credit rating and could not be obtained.
Any statements and judgments regarding the credit status of the rated objects in this report are only for reference in relevant decision-making and do not imply that ARHK substantively recommends any user to invest, borrow or lend money, and trade based on this report, nor can they be used as a basis for users to purchase, sell, or hold related financial products. Under no circumstances shall ARHK, as well as its directors, shareholders, employees, or representatives be liable for any damages, expenses, costs, or losses incurred by any investor (including institutional and individual investors) as a result of using the analysis results presented in this report, nor shall they be liable for any consequences arising from the use of this report by the rated objects or their issuers or providing this report to other parties.