Moody's rates Banco Supervielle notes Aa3.ar

Moody's Investors Service said it assigned an Aa2.ar and Aa3.ar national scale local- and foreign-currency debt ratings to Banco Supervielle's global debt program in the amount of $200 million.

The program allows for multi-currency debt issuances of both senior and subordinated debt. A national scale foreign-currency debt rating of Aa3.ar also was assigned to the expected first issuance of subordinated notes under the program, amounting to $50 million, Moody's said.

The agency also said it assigned Ba3 and B2 global local- and foreign-currency debt ratings to the program, along with a B2 global foreign-currency subordinated debt rating to the expected first issuance of $50 million.

The outlook is stable.

Moody's said that subordination was considered when assigning the rating on its first issue.

Subordinated debt is usually rated one notch below the global local-currency senior rating and the global foreign-currency debt rating is capped by the B2 Argentinean country ceiling for foreign-currency debt, the agency said.

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