Moody’s lifts Argentine utilities

Moody's Investors Service said it upgraded the global and national scale debt and issuer-level ratings for various utilities and infrastructure companies operating in Argentina.

The outlook for all the affected issuers is stable.

The action follows Moody's recent upgrade of the Argentine government's bond rating to B2 from B3 in conjunction with the upgrade of the foreign currency country ceiling to B1 from B2.

Issuers and ratings included in the action are as follows:

• Camuzzi Gas Pampeana SA’s corporate family ratings were upgraded to B1/Aa3.ar from B3/Baa1.ar;

• Distribuidora De Gas Cuyana SA’s corporate family ratings were upgraded to B1/Aa3.ar from B3/Baa1.ar;

• Gas Natural BAN, SA’s corporate family ratings were upgraded to B1/Aa3.ar from B3/Baa1.ar;

• MetroGas SA’s corporate family ratings were upgraded to B1/Aa3.ar from B3/Baa2.ar;

• Empresa Distribuidora de Electricidad Salta’s corporate family ratings were upgraded to B1 from B3 and its $65 million senior unsecured medium-term notes due 2021 were upgraded to B1/Aa3.ar from B3/Baa2.ar;

• Empresa Distribuidora Norte SA’s corporate family ratings were upgraded to B1/Aa3.ar from B3/Baa2.ar and its $176 million senior unsecured global notes due 2022 were upgraded to B1/Aa3.ar from B3/Baa2.ar;

• Empresa Provincial de Energia de Cordoba’s corporate family ratings were upgraded to B2/A1.ar from B3/Baa2.ar and its $565 million senior secured Argentine bonds due 2019 and $100 million senior secured notes due 2022 were upgraded to B2/A1.ar from B3/Baa2.ar;

• Albanesi SA’s and Generacion Mediterranea SA’s corporate family ratings were upgraded to B2 from B3 and their senior unsecured global notes due 2023 were upgraded to B2/A3.ar from B3/Baa2.ar;

• Enel Generacion El Chocon SA’s corporate family ratings were upgraded to B2/A1.ar from B3/Baa2.ar; and

• Transportadora de Gas del Sur SA’s $25 million senior secured global notes due 2020 were upgraded to B1/Aa2.ar from B3/Baa1.ar.

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