S&P upgrades or affirms eight Argentine companies

Standard & Poor's said that it raised Alto Palermo SA's global-currency, Clisa-Compania Latinoamericana de Infraestructura & Servicios SA's global-currency, IRSA Inversiones y Representaciones SA's global-currency, Loma Negra Ciasa's global-currency and Telecom Personal SA's local-currency corporate credit ratings to B from B-.

S&P said it corrected Telecom Personal's and Transportadora de Gas del Sur SA's foreign-currency corporate credit ratings to B from B-.

S&P affirmed the global corporate credit ratings of Compania de Transporte de Energia Electrica en Alta Tension Traansener SA, Empresa Distribuidora Y Comercializadora Norte SA and Hidroelectrica Piedra del Aguila SA at B- and TGS's local-currency corporate credit rating at B.

The outlook is stable.

The corrected ratings should have been raised to B on Sept. 14 following the rise of the transfer and convertibility assessment for Argentina; the upgrade corrects that error, S&P said.

The rating actions followed a comprehensive review of the operating environment for rated corporate entities, which concludes that strong economic growth, a financially healthier sovereign and favorable external conditions provide a more favorable scenario for companies operating in Argentina, the agency said.

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