Friday, 13 February 2009

S&P Strikes Back .. Argentina Corporates Suffer

Yesterday, Standard and Poor's got tougher on Argentina and cut the ratings of the following corporate issuers:

-- Alto Parana (to BB- from BB)
-- Electricidad Argentina (to CCC from B-)
-- Distribuidora y Comercializadora (to B- from B)
-- YPF, the energy company (to B+ from BB)
-- Telecom Argentina (to B- from B)
-- Petrobras Argentina (to B from BB)

The question is, what is next?

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