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S&P cuts Argentine banks, view negative
S&P said it downgraded the ratings for Banco De Galicia Y Buenos Aires, Banco Patagonia SA and Banco de la Provincia de Buenos Aires following the downgrade of Argentina’s sovereign rating to B- from B.
All three were downgraded to B- from B.
S&P affirmed the B- rating and debt ratings for Banco Hipotecario SA and revised its outlook to negative from stable.
The agency also affirmed its CCC debt rating on Banco De Galicia Y Buenos Aires.
The outlook is negative reflecting the outlook on Argentina.
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