Moody’s ups Argentine companies

Moody's Latin America said it upgraded the global scale ratings of several companies with operations in Argentina, with the outlooks changed to stable from positive.

The agency also placed the national scale ratings (NSRs) of several Argentine companies under review with direction uncertain.

The actions on the companies' global scale ratings follow Moody's Investors Service April 15 upgrade of Argentina's government bond rating to B3 from Caa1, with the outlook changed to stable from positive.

Moody's upgraded the global scale rating of Arcor SAIC's senior unsecured notes' to B1 from B2 and placed under review with direction uncertain the Aa1.ar national scale rating. At the same time, it upgraded Arcor's corporate family rating and senior unsecured notes to B1 from B2 on the global scale.

The agency upgraded Raghsa SA's global scale corporate family rating and senior unsecured note ratings maturing in 2017 to B3 from Caa1. It also upgraded Raghsa's senior unsecured note ratings maturing in 2021 to B3 from Caa1. In addition, Moody's placed the Baa3.ar national scale corporate family rating and senior unsecured note ratings under review with direction uncertain.

Moody's upgraded YPF SA's global scale issuer rating to B3 from Caa1. In addition, Moody's placed under review with direction uncertain the Baa1.ar national scale issuer rating. It also upgraded YPF's global scale senior unsecured note ratings to B3 from Caa1 and the medium-term program rating to provisional B3 from provisional Caa1, with the outlook changed to stable from positive.

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