Moody’s rates YPF Energia notes B2

Moody’s Investors Service said it assigned a B2 rating to YPF Energia Electrica SA planned notes of up to $500 million under its medium-term note program. The outlook is negative.

The notes will have a seven-year maturity and the company will use the proceeds to partially fund its investment program, repay outstanding debt and working capital needs.

The agency said the B2 rating and negative outlook reflect the stable and predictable nature of the company's business model, derived from long-term contracted revenues under long term power purchase agreements and fixed price capacity payments entered with Cammesa, Argentina's agency overseeing the wholesale electricity market.

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