Moody's changes outlook to positive from stable on Argentine Companies
Global Credit Research - 07 Mar 2017
New York, March 07, 2017 -- Moody's Investors Service ("Moody's") has revised to positive from stable the outlook for several companies operating in Argentina, while all ratings were affirmed. The companies' outlook change follows the revision of the Argentine government's B3 rating outlook to positive from stable on March 6, 2017.
ISSUERS AND RATINGS AFFIRMED -- OUTLOOK CHANGED TO POSITIVE
Arauco Argentina S.A.: the Corporate Family Rating (CFR) was affirmed at B1 and the rating of the senior unsecured notes, guaranteed by Celulosa Arauco y Constitucion S.A. (Baa3 stable), was affirmed at Baa3. The outlook of the issuer was changed to positive from stable and the outlook of the notes remains stable.
Arcor S.A.I.C.: the CFR and the rating of the senior unsecured global bonds was affirmed at B1.
CableVision S.A.: the CFR and senior unsecured notes rating were affirmed at B3. The outlook was changed to positive from stable.
Pan American Energy LLC, Argentine Branch: the ratings of the backed senior unsecured medium-term notes programs were affirmed at (P)B1 and the rating of the backed global medium-term notes was affirmed at B1. The outlook was changed to positive from stable.
Pan American Energy LLC: the CFR was affirmed at B1. The outlook was changed to positive from stable.
YPF Sociedad Anonima: the senior unsecured notes were affirmed at B3. The rating of the medium-term notes program was affirmed at (P)B3. The outlook was changed to positive from stable.