S&P puts 10 Argentine companies on watch

S&P said it placed its local and foreign currency ratings on the following companies on CreditWatch with negative implications. They are: Aeropuertos Argentina 2000 SA, AES Argentina Generacion SA, Capex SA, Companía de Transporte de Energia Electrica en Alta Tension Transener SA, IRSA Inversiones y Representaciones SA, IRSA Propiedades Comerciales SA, Telecom Argentina SA, Transportadora de Gas del Sur SA, Pampa Energia SA and YPF SA.

At the same time, S&P revised its outlook on Empresa Distribuidora y Comercializadora Norte SA (Edenor) to stable from positive and affirmed the B long-term issuer credit ratings.

“The CreditWatch placements follow that on the sovereign, which stemmed from our views of increasing risks for Argentina to implement economic adjustments due to negative investor sentiment, which ultimately weakens the peso, and a spike in inflation,” S&P said in a news release.

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