Moody’s downgrades Argentine utilities, others

Moody’s Investors Service said it downgraded the ratings and changed the outlook to negative for five Argentine utilities and infrastructure companies. The downgrades follow the downgrade of the country’s sovereign rating, and a review the agency started in September. The companies are:

Camuzzi Gas Pampeana SA to Caa3/Caa1.ar from Caa1/Baa3.ar;

Distribuidora De Gas Cuyana SA to Caa3/Caa1.ar from Caa1/Baa3.ar;

MetroGas SA to Caa3/Caa2.ar from Caa1/Ba1.ar;

Empresa Provincial de Energía de Cordoba to Ca/Ca.ar and its $100m senior secured notes ratings to Ca/Ca.ar from Caa2/B1.ar; and

YPF Energia Electrica SA and $100 million of senior unsecured notes to Caa3/Caa1.ar from Caa2/B1.ar.

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