Moody's could cut Edenor

Moody's Latin America said it placed Edenor SA's Caa1/Ba3.ar ratings on review for possible downgrade.

Moody's said the review is mainly prompted by the company's reported accumulated losses that, as of March 31, have consumed its net worth completely.

Furthermore, Edenor's cash generation continued to be weak and only through the cutting of its payments to Cammesa the company was able to sustain its other day-to-day cash needs, including interest on its debt, the agency said.

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