S&P ups TGS to B-

Standard & Poor's said it raised its local and foreign currency ratings on Transportadora de Gas del Sur SA to B- from CCC+.

The raBB national scale rating is unaffected. The outlook is stable.

The rating action follows S&P's perception of a better business environment in Argentina after three consecutive years of economic growth and the unusually high prices of TGS' unregulated activities, despite the uncertainties regarding utilities in the country.

The ratings do still reflect some government intervention that could partially affect TGS' unregulated business, S&P said.

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