Moody's cuts YPF Sociedad

Moody's Investors Service said it downgraded YPF SA's global local currency rating to Caa1 from B3 and its national scale rating to Ba1.ar from Baa3.ar.

At the same time, Moody's assigned a provisional Caa1 Global local currency rating and Ba1.ar national scale rating to YPF's bank line with Banco de la Nacion for A$2 billion.

The credit line with Banco de la Nacion is uncommitted and ranks pari passu with YPF's other senior unsecured debt.

The outlook is stable.

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