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Moody’s lifts Argentine companies
Moody's Investors Service said it upgraded the global scale ratings and repositioned the national scale ratings of nine companies with operations in Argentina.
The actions follow the upgrade on of Argentina's government bond rating to B2 from B3, with the outlook changed to stable from positive, the agency said.
Issuers and ratings included in the action are as follows:
• CableVision SA’s senior unsecured regular bonds were upgraded to A1.ar from Baa1.ar and placed under review for further upgrade;
• Arcor SAIC’s senior unsecured regular bonds were upgraded to Ba3 from B1 and to Aaa.ar from Aa1.ar;
• Raghsa SA’s corporate family rating was upgraded to A3.ar from Baa2.ar and its senior unsecured regular bonds were upgraded to A3.ar from Baa2.ar;
• Asociacion de Cooperativas Argentinas’s corporate family ratings were upgraded to B1 from B2 and to Aa2.ar from A1.ar, its senior unsecured bank credit facility was upgraded to B1 from B2 and Aa2.ar from A1.ar, and its outlook was changed to stable from positive;
• Holcim (Argentina) SA’s corporate family rating was upgraded to B1 from B2 and to Aa2.ar from A1.ar, and its outlook was changed to stable from positive;
• Mirgor SA’s corporate family rating was upgraded to B2 from B3 and to A2.ar from Baa1.ar, and its outlook was changed to stable from positive;
• Sullair Argentina SA’s corporate family rating was upgraded to B2 from B3 and to A2.ar from Baa2.ar;
• Telecom Argentina SA’s corporate family rating was upgraded to B2 from B3 and to A1.ar from Baa1.ar and placed under review for further upgrade; and
• YPF SA’s issuer rating was upgraded to B2 from B3 and to A1.ar from Baa1.ar.
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