Moody's rates Comafi debt B2, B3

Moody's Investors Service said it assigned provisional B2 and provisional B3 debt ratings to Banco Comafi's multicurrency medium-term note debt program of $200 million, and a B2 global local-currency debt rating to the first expected issuance under the program, up to the amount of ARS 100 million.

At the same time, Moody's Latin America assigned a local and foreign currency debt rating of A1.ar and A2.ar, respectively, on the Argentine national scale to the program, and a A1.ar national scale local currency debt rating to Comafi's first expected issuance.

The outlook on all ratings is negative, in line with the negative outlook on the sovereign ratings.

Moody's said the local currency senior unsecured debt rating derives from Comafi's B2 global local currency deposit rating. Moody's also noted that seniority was taken into consideration in the assignment of the debt ratings.

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