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S&P cuts YPF Energia Electrica profile
S&P said it cut the stand-alone profile of YPF Energia Electrica SA to B from B+ after the company sold $400 million of notes at a higher interest expense than S&P had projected.
Proceeds could be used for capital expenditures or for a combination of capital spending and prepaying debt.
The agency said it expects higher debt costs to fund the company’s 634-megawatt expansion, which has hurt YPF Energia’s financial metrics.
The outlook is stable.
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