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They were talking about Argentina’s first debt swap, in June 2001. Only the second, in November, triggered ‘selective default’ ratings.
Plenty more in the report about the failure of credit enhancements and “precautionary” credit lines for Argentina as well if you’re up to wading through.
Or, keep watching the news wires on Greece. Same thing!
http://ftalphaville.ft.com/blog/2011/07/21/630131/breaking-ten-year-old-news-from-argentina/
...
They were talking about Argentina’s first debt swap, in June 2001. Only the second, in November, triggered ‘selective default’ ratings.
Plenty more in the report about the failure of credit enhancements and “precautionary” credit lines for Argentina as well if you’re up to wading through.
Or, keep watching the news wires on Greece. Same thing!
http://ftalphaville.ft.com/blog/2011/07/21/630131/breaking-ten-year-old-news-from-argentina/
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