Fitch downgrades Argentine oil companies following Central bank dollar move

Saturday, October 29th 2011 - 03:35 UTC

Full article 3 comments

Fitch Ratings has downgraded Argentine oil companies YPF and Pan American Energy foreign (PAE) currency Issuer Default Rating (IDR) to 'B+' from 'BB-' and has affirmed their local currency IDR at 'BB'. Read full article

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geo
wo will gave the rating to Fitch/other agencies....??
Oct 29th, 2011 - 09:16 am - Link - Report abuse 0
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GeoffWard2
Argentine oil companies YPF and Pan American Energy foreign (PAE) :

Junk bond level (BB-) becomes even more junk bond level (B+).

Don't know much about this, but it sounds bad.
Anybody able to help?
Oct 29th, 2011 - 02:30 pm - Link - Report abuse 0
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Pirat-Hunter
I guess this companyes couldn't hide the true balue of their portfolio's, corruption is deep inside this culture and it seems that regulations weeds them out, maybe even rockhoper looking to theft oil in Malvinas Argentina are fixing their financial sheets to attract suckers. this companyes don't seem too bothered with brits thefting oil wealth from Argentina, I have a message for them, if it gets tough in Argentina you are all welcome to go back to wherever you feel better and there is someone who gives a damn.
Oct 30th, 2011 - 12:40 am - Link - Report abuse 0
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