Moody's upgrades YPF

Moody's Investors Service said it upgraded the foreign currency issuer rating of YPF SA to B3 from Caa1 following the agency's decision to upgrade Argentina's foreign currency country ceiling to B3 from Caa1.

YPF's foreign currency issuer rating is constrained by the foreign currency country ceiling of Argentina, the agency said.

Moody's also said it upgraded the senior unsecured ratings of YPF and of Maxus Energy, which is guaranteed by YPF, to Ba2 from Ba3.

The decision reflects Moody's view of the likelihood of a debt moratorium being imposed by the Argentinean government and the likelihood of YPF being caught up in such a moratorium, the agency noted.

Moody's said YPF's Baa2 domestic currency issuer rating remains unchanged.

The outlook is stable for all.

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