Fitch changes Argentina to positive

Fitch Ratings said it revised Argentina's outlook to positive from stable and affirmed its long term foreign-currency issuer default rating at B.

Fitch said the outlook revision reflects an improving backdrop for policies that could support a stronger and more stable macroeconomic outlook, after a decade of weak and volatile performance.

“Recent midterm elections have improved confidence in the durability of the on-going policy shift, which augurs well for investment and the sovereign's ability to maintain favourable financing access. The build-up in international reserves and a more flexible exchange rate confer greater policy flexibility to manage shocks,” the agency said in a news release.

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