S&P cuts Electricidad Argentina

Standard & Poor's said it revised the outlook on Electricidad Argentina SA to negative from stable.

In addition, the agency said it affirmed the CCC global scale corporate credit rating.

S&P said the outlook revision is based on its belief that the company's ultimate parent, Pampa Energia, is less likely to support the company as a result of the persistent deterioration of its subsidiary Empresa Distribuidora Y Comercializadora Norte SA's operating and financial performance, which S&P expects will continue eroding in the second half of 2012.

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