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Argentina credit rating default

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Credit ratings firm Fitch drops Argentina's rating to CC from B, 8 levels below investment grade.
Argentina credit rating default

Hernan Lorenzino, Argentina's finance minister, speaks to reporters in Buenos Aires on November 22, 2012. Argentina said it will appeal a US judge's ruling ordering it to pay $1.33 billion to speculators holding bonds from the country's 2001 default. "We do not think it is right or legitimate to pay vulture funds," he said.