Moody's assigns B3 to YPF notes

Moody's Investors Service said it assigned a B3 foreign currency bond rating to up to $500 million of medium-term notes to be issued by YPF Sociedad Anonima under the company's $5 billion medium-term note program.

At the same time, the agency affirmed YPF's B3 global local currency rating.

The outlook is negative.

Proceeds from the notes issuance will be used to fund investments in fixed assets located Argentina and working capital.

"YPF's proposed bond offering will improve the company's liquidity and debt maturity profile, and also diversity its sources of financing," Moody's vice president Gretchen French said in a news release. "Our underlying views on YPF reflected in our November 13 rating action remain unchanged."

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