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Moody's puts Argentinean banks on review
Moody's Investors Service said it placed the Ba2 global local-currency debt and deposit ratings of Banco Comafi SA, the Ba1 global scale and Aa1.ar national scale local-currency debt and deposit ratings of Banco Hipotecario SA and the Ba1 global local-currency debt and deposit ratings of Banco Macro SA on review for possible downgrade, along with the global local-currency deposit ratings of 13 other Argentinean banks, in light of the agency's global review of systemic support for bank ratings.
The review of the local-currency ratings will consider Argentina's ability to provide support to its banking system, should such support be needed.
Moody's believes that most governments are at least as likely, if not more likely, to support their banking systems as they are to service their own debts. However, it said that as the financial crisis wears on, the capacity of a country and its central bank to support the nation's banks converges with, and is constrained by, the government's own debt capacity.
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