Dec ⁠17 (Reuters) – S&P Global upgraded ⁠Argentina’s long-term foreign currency sovereign credit rating to “CCC+” ⁠from “CCC” on Wednesday, citing improved liquidity and easing economic ​vulnerabilities after midterm elections and lower ‍inflation.

The agency also raised local currency sovereign credit ratings on the country to “CCC+/C” from “SD/SD”, reversing a ​February downgrade triggered by repeated local debt exchanges amid limited access to external capital markets.

Argentina’s economy ​expanded 3.3% in the third quarter compared ⁠with the same period last year, ‌driven by strong investment and sectoral boosts in finance, ⁠mining and hospitality, official ​data showed on Tuesday, marking its fourth ‌consecutive quarterly gain.

Last week, the government said it raised $1 billion ‍through a sale of a four-year dollar bond governed by local law, a move seen as bolstering creditworthiness and reducing default risk even if future debt exchanges occur.

S&P maintained Argentina’s outlook at “stable”.

(Reporting by Aatrayee Chatterjee ⁠in Bengaluru; Editing ‌by Alan ⁠Barona)