S&P downgrades Repsol’s rating; sees no compensation payment in near-term

Tuesday, April 24th 2012 - 06:20 UTC

Full article 3 comments

Rating Agency S&P announced on Thursday it was downgrading Spain-based energy company Repsol-YPF after Argentina’s government announced the expropriation of 51% of its shares. The rating was lowered from BBB to BBB (minus), the agency said in a statement. Read full article

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GeoffWard2
Repsol's BBB(-) stands well clear of Argentina's sovereign B(-) ... C,

though both will suffer greatly as a result of CFK's illegal acts of expropriation.

Repsol will evolve and survive to shareholder profitability through its activities elsewhere in the world.

Argentina, on the other hand, has nowhere to go.
All it can do is to survive by selling off its assets to the Chinese ...... because the ('65%') poor peronista voters are unwilling to see the wood for the trees.
Apr 24th, 2012 - 10:23 am - Link - Report abuse 0
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British_Kirchnerist
See how these capitlaists look out for each other...not!
Apr 24th, 2012 - 12:49 pm - Link - Report abuse 0
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RobWilliams
@2

In the real world, S&P make their informed rating decisions based on actual information rather than 'well, they're capitalist so we should make them REALLY good'

It's not South America, where you expect fundamental loyalty from all due to having a similar socio-economic system.

It's the fact that S&P use logic and not relationships to base their decisions on is the reason that people respect their rating more than an organisation that hides unwelcome figures or just outright lies about them, like the Argentinian government.
Apr 24th, 2012 - 02:20 pm - Link - Report abuse 0
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