Moody’s changes view on Argentine banks

Moody's Investors Service said it affirmed the senior unsecured debt ratings of Banco Macro SA, Banco Hipotecario SA, Banco Supervielle SA, Banco de la Ciudad de Buenos Aires and Tarjeta Naranja SA, as well as Tarjeta Naranja's corporate family rating.

Moody's also affirmed the B3 foreign currency subordinated debt ratings assigned to Banco Macro and Banco de Galicia y Buenos Aires.

At the same time, Moody's changed to negative from stable the outlook on all ratings, following the announcement by Moody's that it has taken a similar action on the banks' local currency deposit ratings.

Both rating actions follow Moody's decision on July 12 to change to negative from stable the outlook on Argentina's B2 government bond rating, Moody’s said.

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