Fitch affirms Petrobras Argentina at BB

Fitch Ratings said it has affirmed Petrobras Argentina SA's ratings as follows: foreign currency issuer default rating at BB; local currency issuer default rating at BB; senior unsecured notes at BB; and guaranteed notes at BBB.

The outlook is stable.

The agency said that Petrobras Argentina's ratings are supported by the continuous backing received from its controlling shareholder, Petroleo Brasiliero SA (issuer default rating BBB/outlook stable), and its solid credit metrics, integrated business profile and competitive cost structure.

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