Fitch affirms YPF

Fitch Ratings said it affirmed the senior unsecured local and foreign currency ratings of YPF SA at BB and the Argentina national scale rating at AAA(arg). The outlook is stable.

Fitch said the ratings incorporate the benefits of YPF's ownership structure, solid operating performance and credit protection measures and proven hard currency-generating ability.

Although the company's credit indicators suggest rating levels higher than those assigned, Fitch said the Argentine sovereign's credit profile continues to constrain YPF's standalone credit ratings.

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