NEW YORK, Dec 10 (Reuters) – Investors owning restructured
Argentine sovereign debt have hired legal advisers Linklaters to
help negotiate an end to a decade-long fight by holdout
investors who refused to participate in two prior government-led
In November these investors, who participated in one or both
of the debt restructurings following Argentina’s sovereign
default in 2001, formed an ad hoc committee to propose an offer
to resolve the stand-off with the holdouts.
NEW YORK, Dec 10 (Reuters) – Fitch Ratings on Tuesday
upgraded Colombia’s foreign currency sovereign credit rating to
BBB from BBB-minus, citing improving debt dynamics and “credible
and consistent” policies.
The outlook on the credit was revised to stable from
positive following the overall upgrade.
NEW YORK (Reuters) – The euro hit a six-week high versus the dollar and a five-year peak against the yen on Monday, helped by tighter money market conditions in the euro zone and strong trade numbers from China, which boosted investor tolerance for riskier currencies.
Europe’s common currency remained resilient despite Friday’s better-than-expected U.S. nonfarm payrolls report, tepid economic conditions in the euro zone and constant reiteration by European monetary officials that interest rates would remain low for some time.
NEW YORK, Dec 9 (Reuters) – Saruul Ganbaatar, the deputy
head of Mongolia’s stock exchange, hopes the country’s days of
interventionist economic policies are over and new laws ensuring
foreign investors’ access to the frontier market’s industries
will bring back sorely needed cash.
In mid-2012, Mongolia rushed into law restrictions on
foreign ownership of strategic sectors such as mining,
telecommunications and banking. The government hastily created
the legislation to block Chinese state-owned Aluminum Corp of
China (Chalco) from gaining a controlling stake in
Mongolia-focused coal miner SouthGobi Resources.