Fitch upgrades Argentina's debt rating.

Fitch Ratings has upgraded Argentina's credit rating, citing the country's gradual removal of currency controls and successful access to multilateral financing. According to a statement released on May 12, Fitch raised Argentina's credit rating by one notch to CCC+, which is equivalent to the seventh level in the junk category, on par with the ratings of Ecuador and Sri Lanka. Fitch will not assess the rating outlook for sovereign countries rated CCC+ and below.