安融（香港）評級確認阿根廷共和國“CCC”國際評級；展望:穩定
安融（香港）評級確認阿根廷共和國“CCC”國際評級；展望:穩定
05 12 2024
2024年12月05日，中國香港。安融（香港）評級確認阿根廷共和國（簡稱“阿根廷”）的長期主體評級為“CCC”，展望為“穩定”。
評級結果肯定了阿根廷的經濟規模較大，國民收入水準較高，債務重組與談判持續推進，近期違約風險有所緩解；同時也關注了阿根廷政府治理效率較低，陷入弱治理與經濟衰退的惡性循環，外匯儲備薄弱，經濟波動較大，通脹水準持續高企。
關鍵評級觀點
優勢
阿根廷的經濟規模較大，國民收入水準較高；
債務重組與談判持續推進，阿根廷近期違約風險有所緩解。
關注
阿根廷政府治理效率較低，陷入弱治理與經濟衰退的惡性循環；
阿根廷外匯儲備薄弱；
阿根廷經濟波動較大，通脹水準持續高企。
評級展望
米萊政府推行財政緊縮政策，在降低通脹和穩定經濟方面取得一定進展，但改革前景仍存在不確定性。綜合考慮，安融（香港）評級授予阿根廷的信用評級展望為穩定。
注：
1、上述評級均為主動評級。
2、本文譯自英文版新聞稿。若有分歧，以英文版為准。
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胡超，執行董事
Huchao@arrating.com
專案組組員
林芮礽，分析師
評審委員會主任
胡超
Huchao@arrating.com
媒體聯繫
complaints@arrating.com
評級服務聯繫
林芮礽
相關信用評級委員會召開日期：2024年12月05日
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相關的評級方法和模型
《主權信用評級方法和模型》（2024年11月28日）
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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.