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Thursday, Nov 29
2012, 3:35 AM
An appeals court yesterday allowed Argentina to delay the payment of $1.3B of defaulted debt to...
An appeals court yesterday allowed Argentina to delay the payment of $1.3B of defaulted debt to bondholders who refused to accept haircuts on the paper, pending a further ruling from the court. A district judge had ordered the country to place the money into an escrow account by Dec 15 if it pays out $3B of restructured debt, as scheduled. The lower court ruling had sparked fears that Argentina could default and prompted Fitch to slash its ratings on the country.