This is stated in the release of the agency.
"The downgrade of Argentina to" C "indicates that the process of" re-issuance of bad debt (DDE) "began after the authorities announced the restructuring of external bonds," the statement said.
Fitch believes that default on payments will be inevitable if an agreement with the debt holders is not reached in the coming weeks.
In November 2019, Argentine President Alberto Fernandez said he did not intend to use the $ 12 billion that remained available from the IMF credit line, opened in 2018.