Argentina's Country Risk, page-6

Dug I know that you are anxious about Argentina's sovereign risk so let go through it.
" Sovereign risk is the chance that a national government's treasury or central bank will default on their sovereign debt, or else implement foreign exchange rules or restrictions that will significantly reduce or negate the worth of its forex contracts. KEY TAKEAWAYS Sovereign risk is the potential that a nation's government will default on its sovereign debt by failing to meet its interest or principal payments. Sovereign risk is typically low, but can cause losses for investors in bonds whose issuers are experiencing economic woes leading to a sovereign debt crisis. Strong central banks can lower the perceived and actual riskiness of government debt, lowering the borrowing costs for those nations in turn. Sovereign risk can also directly impact forex traders holding contracts that exchange for that nation's currency."
So as you can see sovereign risk is about the treasury being unable or unwilling to service the debt and this is of concern to people who lent the government money. Who loses if Argentina default? Bond holders. Does LKE hold Argentinian bonds? Sovereign risk is lowered if the country exports more. LKE will hopefully lower the current account deficit by exporting and earning Argentina hard currency that can be used to service the debt.
Sovereign risk involving companies relates to a regimen kicking companies out or imposing taxation at extreme levels. The LKE management team have lengthy experience working in Argentina and Im sure that they must be across this stuff but if your anxious about our money well what can I say other than chilax man you worry to much.