Moody’s cuts Argentine utilities

Moody’s Investors Service said it downgraded the ratings on 11 utilities and infrastructure companies operating in Argentina. All their ratings are under review for downgrade.

Issuers included in the downgrade are:

• Empresa Distribuidora de Electricidad Salta corporate family rating downgraded to Caa1 from B1 and $65 million senior unsecured euro medium-term notes due 2021 downgraded to Caa1 from B1;

• Empresa Distribuidora Norte SA corporate family rating downgraded to Caa1 from B1 and $176 million senior unsecured global notes due 2022 downgraded to Caa1 from B1; and

• Albanesi SA / Generacion Mediterranea SA, respectively, corporate family rating downgraded to Caa2 from B2 and $336 million backed senior unsecured global notes due 2023 downgraded to Caa2 from B2.

• Transportadora de Gas del Sur SA corporate family rating downgraded to Caa1 from B1 and $500 million senior notes due 2025 downgraded to Caa1 from B1;

• Aeropuertos Argentina 2000 SA corporate family rating downgraded to Caa1 from B1 and $400 million senior secured global notes due 2027 downgraded to Caa1 from B1;

• Agua y Saneamientos Argentinos SA corporate family rating downgraded to Caa2 from B2 and $500 million senior Euronotes due 2023 downgraded to Caa2 from B2;

• Genneia SA corporate family rating downgraded to Caa2 from B2 and $500 million senior unsecured global notes due 2022 downgraded to Caa2 from B2;

• MSU Energy SA $600 million senior secured global notes due 2025 downgraded to Caa2 from B3;

• Stoneway Capital Corp. $665 million senior secured global notes due 2027 downgraded to Caa2 from B3; and

• YPF Energia Electrica SA $400 million senior unsecured global notes due 2026 downgraded to Caa2 from B2.

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