May 26, 2020 | 7:12 pm

After the rating agencies Fitch Ratings and S&P downgraded Argentina’s credit ratings for non-payment of interest, the South American country placed a bond and Treasury bills in local currency on Tuesday for 18,043 million pesos (264.3 million dollars) .

Standard & Poor’s downgraded the credit rating of four Argentine bonds to “D” from “CC”, due to non-payment of interest within the stipulated grace period. While Fitch cut the rating to “restricted default” from “C”.

Last Friday, Argentina reached an agreement with its creditors to continue with the restructuring of its external debt of around 65,000 million dollars, however, it failed to pay 503 million dollars of interest on bonds issued, thus which fell into a ‘soft default’.

Amid credit degradation, Argentina placed a bond and Treasury bills in local currency for a total of 18,043 million pesos, equivalent to 264.3 million dollars, on Tuesday, the Ministry of Economy said in a statement.

The portfolio awarded 8,162 million pesos (119.55 million dollars) in Boncer 1.3%, at a cut price of 986.46 pesos, which represents a rate of 2.25%.

It also placed 3,006 million pesos (44.03 million dollars) in Lecer at a discount with maturity on October 13, 2020, with a cut price of 1,008.83 pesos, which represents a rate of 2.0%, and another 478 million pesos ( 7 million dollars) in discounted bills maturing on September 11, 2020, with a cut price of 919.02 pesos and a rate of 30.34%.

In the case of discounted bills maturing on August 13, 2020, it placed 6,396 million pesos (93.68 million dollars) with a cut price of 940.95 pesos, which represents a rate of 29.75%.

In the operation, 209 purchase orders were received and 208 were awarded.