UPDATE 1-Clearstream suspends security settlement in the Argentine market

March 31, 2015 3:57 PM

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NEW YORK, March 31 (IFR) - Luxembourg-based Clearstream has suspended settlement for any security in the Argentine market, after its local custodian Citibank recently lost its ability to provide such services, a spokesperson for the clearing house told IFR on Tuesday.

The suspension heightens concerns that a broader set of bonds will be impacted by Argentina's decade-long battle with holdout creditors who have sued Argentina for full repayment following the sovereign's 2001 default.

Also read: Moody’s Expects U.S. to Sue Over Its Pre-Crisis Bond Ratings

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