Moody's lifts view of Argentine banks to positive

Moody's Investors Service said it changed the outlook on the Caa1 long-term foreign-currency deposit ratings and Ba1.ar national scale foreign-currency deposit ratings of all rated Argentine banks to positive from stable.

Affected banks include Banco Banex SA, Banco Supervielle SA, Banco de la Provincia de Buenos Aires, BBVA Banco Frances SA, BankBoston, NA (Argentina), Banco Cetelem SA, Banco de la Ciudad de Buenos Aires, Banco Comafi SA, Banco Credicoop Cooperativo Limitado, Banco Hipotecario SA, Banco Itaú Buen Ayre SA, Banco Macro SA, Nuevo Banco Bisel SA, Nuevo Banco Suquia SA, Banco del Tucuman SA, MBA Banco de Inversiones SA, Banco de la Nación Argentina, Banco de la Nación Argentina (Bolivia), Banco de la Nación Argentina (Uruguay), Banco Patagonia SA, Banco Piano SA, Banco Rio de la Plata SA, Standard Bank Argentina SA and Banco Valores SA.

As a result of this change, the agency also changed to positive the outlook on Banco Macro's subordinated notes, which have B3 long-term foreign-currency and A3.ar national scale foreign-currency ratings; the outlook on its senior unsecured notes, which have provisional B2 global foreign-currency and Aa3.ar national scale foreign-currency ratings; and the outlook on Banco Patagonia's subordinated debt, which has a Ba1.ar national scale foreign-currency rating.

The change in outlook follow Moody's revision of the outlook Argentina's Caa1 country ceiling for foreign-currency deposits and the nation's B2 country ceiling for foreign-currency bonds and notes to positive from stable.

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