Weekly Wrap-Up, Week of May 4 - Fitch Upgrades Argentina, Adorni Scandal Deepens, MercadoLibre Plunges & YPF Beats Estimates

A Fitch upgrade, a corruption scandal entering its third month, and quarterly results from Argentina's two largest companies by market cap — with very different outcomes.FULL THREAD AVAILABLE ON X! https://x.com/ArgentinaBrief/status/2053545311293919531This week: Economy Minister Luis Caputo shifts his tone on tapping international debt markets. Fitch raises Argentina from CCC+ to B-minus, while Moody's hints a July upgrade could be possible. The Adorni scandal intensifies as Patricia Bullrich publicly breaks ranks. MercadoLibre delivers 49% revenue growth but plunges 12.7% — and Michael Burry says he's buying. YPF beats estimates but slips on fuel price freeze questions. Plus: REM survey shows inflation steady but GDP expectations trimmed.🎧 For a deeper dive, check out Episode 2 of the monthly Argentina Brief podcast with Dan Politi and Allie Lazar — available on all podcast platforms.Stories covered:Caputo shifts tone on international debt issuanceFitch raises Argentina to B-minusMoody's signals possible July upgradeAdorni scandal — Bullrich calls for urgent asset declarationMilei approval falls below 36%REM survey: 2.6% inflation, peso forecasts strengthen, GDP trimmed to 2.8%MercadoLibre Q1: 49% revenue growth, stock plunges 12.7%Michael Burry takes position in MELIYPF Q1: beats estimates, fuel price freeze in focus