Moody's downgrades Aeropuertos

Moody's Latin America said it downgraded Aeropuertos Argentina 2000 SA's local currency corporate family rating to B2 from B1 and its national scale rating to Aa3.ar from Aa2.ar.

At the same time, Moody's downgraded Aeropuertos' local currency class A and class B senior unsecured notes' ratings to B2 from B1 and its national scale rating to Aa3.ar from Aa2.ar.

Additionally, Moody's revised the outlook for Aeropuertos' local currency debt to stable from positive.

Finally, Moody's said it affirmed Aeropuertos' foreign currency class C and $300 million senior unsecured notes' ratings at B2 and its national scale rating at Aa3.ar.

Moody's said the downgrades reflect its view that Aeropuertos ultimately cannot be completely de-linked from the credit quality of the Argentinean government, and thus its ratings need to more closely reflect the risk that they share with the sovereign.

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