S&P gives B- to Telecom Argentina notes

S&P said it assigned its B- issue-level rating to Telecom Argentina SA's (B-/negative/--) proposed senior unsecured notes due 2025.

Telecom Argentina intends to exchange its outstanding 6˝% senior unsecured notes due 2021 for the proposed 2025 notes.

“We view the exchange as a measure of active debt management. The existing notes have about two remaining years to mature, and in our view, the offer doesn't represent a loss of value for current debt holders,” S&P said in a news release.

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