Moody's gives Mirgor B3

Moody's Latin America said it has assigned corporate family ratings of B3 on its global-scale and A3.ar on the Argentina national-scale to Mirgor SA.

At the same time, Moody's said it assigned B3 local currency and A3.ar Argentina national-scale ratings to Mirgor's ARS 30 million bank credit line with Banco de la Nación Argentina (unrated).

This is the first time that Moody's has assigned a debt rating to Mirgor.

All ratings have a stable outlook.

According to Moody's, the B3/A3.ar ratings reflect Mirgor's position as one of the Leaders in the Argentine domestic auto parts business, its relatively flexible operating platform, which can help it to adapt to changing circumstances in the auto parts industry, and long-established and coordinated operations with local automakers.

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