Moody’s gives Caa1 to Banco Macro debt

Moody's Investors Service said it assigned a global foreign currency debt rating of Caa1 to Banco Macro SA's subordinated debt issuance class A up to $400 million, which will be issued under New York law and due in 2026.

The Caa1 foreign currency subordinated debt rating is notched down from the bank's B3 senior debt rating to reflect higher expected loss due to subordination, Moody’s said.

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