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S&P cuts Alto Palermo
Standard & Poor's said it lowered its foreign currency corporate credit rating on Alto Palermo SA to B- from B+.
The outlook is stable.
At the same time, the agency said it placed the B+ local currency corporate credit rating on the company on Creditwatch with negative implications.
The agency added that the lowering of the foreign currency corporate credit rating follows a change in the transfer and convertibility assessment for Argentina to B- from B+.
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