Moody’s lowers Petrobras Argentina notes to Ba3

Moody's Latin America said it downgraded the global scale rating on Petrobras Argentina SA's $300 million in guaranteed series S notes to Ba3 from Ba2.

The accompanying Aaa.ar national scale rating to the notes remained unchanged.

Moody’s said the actions reflect its Dec. 9 downgrade of downgrading Petroleo Brasileiro SA's (Petrobras) global debt ratings to Ba3 from Ba2. The ratings are on review for downgrade.

The rating and outlook for the unguaranteed ratings of Petrobras Argentina are unchanged, including the provisional B2 senior unsecured, positive.

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