S&P affirms Transportadora de Gas del Sur

S&P said it affirmed its B+ foreign and local currency ratings on Transportadora de Gas del Sur SA (TGS).

At the same time, S&P affirmed its B+ rating of the company's seven-year senior unsecured notes for $500 million. The company's SACP remains at bb. The outlook remains stable.

“The ratings on TGS reflect our expectation that despite its solid current and projected credit metrics and adequate liquidity position, the B+ sovereign rating on Argentina limits TGS's credit quality because the company won't be able to withstand a sovereign stress scenario,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.