Moody's rates Banco Macro notes Ba1

Moody's Investors Service said it assigned a provisional Ba1 global local-currency rating and a provisional Aa1.ar local-currency debt rating to Banco Macro SA's $100 million senior unsecured Argentine peso-linked notes due 2012.

The outlook is stable.

The agency said the Ba1 bond rating incorporates the bank's fundamental credit quality, which is reflected by its Ba1 global local-currency deposit rating.

The notes are denominated and payable in dollars. However, in the event of legal or regulatory restrictions or any other reason beyond Banco Macro's control, payment on the notes can be made in Argentine pesos.

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