S&P lowers 10 Argentine companies

S&P said it lowered the ratings on 10 Argentine companies after it downgraded the long-term rating on Argentina to B from B+ a day earlier.

S&P said it lowered its local and foreign currency ratings on the following corporate entities to B and removed them from CreditWatch negative. The outlook on these companies is now stable. The companies are: TAES Argentina Generacion SA; Capex SA; Compania de Transporte de Energia Electrica en Alta Tension Transener SA; IRSA Inversiones y Representaciones SA; IRSA Propiedades Comerciales SA; Transportadora de Gas del Sur SA (TGS); Pampa Energia SA; and YPF SA.

S&P said it also downgraded the following companies to B+, removed the ratings from CreditWatch negative and assigned a stable outlook: Aeropuertos Argentina 2000 SA and Telecom Argentina SA.

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