Moody's Investors Service ("Moody's") has downgraded the ratings for several non-financial companies operating in Argentina, and all ratings were placed under review for downgrade. The actions follow the downgrade of the Argentine government's bond rating to Caa2 from B2, also placed on review for downgrade, on August 30, 2019.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Telecom Argentina S.A. New York, September 19, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Telecom Argentina S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Note: For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the restatement will be applied to the annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive. Consolidated Revenues of Telecom Argentina amounted to P$159,699 million in 9M19, of which Service Revenues totaled P$149,641 million. During the 3Q19, the Company was able to increase Service Revenues at a faster rate than the level of inflation (which increased 3.0% in real terms in 3Q19 compared with 2Q19), being this increase related to the demand for higher value services and achieved in a challenging and volatile context.
Telecom Argentina S.A. (TEO) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
Buenos Aires City, April 07, 2020 -- Moody´s Latin America Agente de Calificación de Riesgo S.A., ("Moody´s") has downgraded the global scale and national scale ratings for several non-financial companies operating in Argentina. The rating actions follow the downgrade of the Government of Argentina's bond rating to Ca from Caa2, with the outlook changed to negative from ratings under review, on April 3, 2020.
Note: For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the restatement will be applied to the annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive. Accordingly, the reported figures corresponding to 1Q20 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of 1Q20 and vs. 1Q19 mentioned in this press release correspond to "figures restated by inflation" or "constant".
Telecom Argentina (NYSE: TEO, BASE: TECO2), ("Telecom Argentina" or the "Company"), a leading telecommunications company in Argentina, announces that it has submitted today its 2019 Annual Report on Form 20-F to the U.S. Securities and Exchange Commission ("SEC"), which includes our audited financial statements under International Financial Reporting Standards ("IFRS") as of and for the year ended December 31, 2019.
Moody´s Latin America Agente de Calificación de Riesgo S.A. ("Moody's") has changed to negative from stable the outlook for several companies operating in Argentina. The global scale and national scale ratings were affirmed for these companies, with the exception of Arcor S.A.I.C., whose national scale rating was downgraded to Aa1.ar from Aaa.ar. Arcor S.A.I.C.´s global scale senior unsecured note's rating was affirmed at Ba3.
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Moody's Investors Service ("Moody's") has changed to negative from stable the outlook for several companies operating in Argentina, while all ratings were affirmed. Pampa Energía S.A.'s CFR and senior unsecured notes' ratings were affirmed at B2. The outlook was changed to negative from stable.
Moody´s Latin America Agente de Calificación de Riesgo S.A. ("Moody's") has downgraded the global scale and national scale ratings for several non-financial companies operating in Argentina, and ratings were placed under review for downgrade. In the case of Quickfood S.A., the national scale rating of its backed senior unsecured notes, fully guaranteed by its parent company Marfrig Global Foods S.A. (B1 stable), was upgraded to Aa2.ar from Aa3.ar, while the other ratings remained unchanged/affirmed.
Note: For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the restatement will be applied to the annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive. It is important to highlight this impact when performing an analysis of the Company's operational performance. Consolidated Revenues of Telecom Argentina amounted to P$94,756 million in 1H19, of which Service Revenues totaled P$88,581 million.
BUENOS AIRES, ARGENTINA / ACCESSWIRE / August 12, 2019 / Cablevisión Holding S.A., (“Cablevision Holding”, “CVH” or “the Company” - BCBA: CVH; LSE: CVH; Level 1: CVHSY), controlling shareholder of Telecom ...
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New York, April 07, 2020 -- Moody's Investors Service, ("Moody's") has downgraded the ratings for several non-financial companies operating in Argentina. This concludes the review for downgrade initiated on 3 September 2019. The actions follow the downgrade of the Government of Argentina's bond rating to Ca from Caa2, with the outlook changed to negative from ratings under review, on April 3, 2020.
Note: For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the restatement will be applied to the annual financial statements, for intermediate and special periods ended as of December 31, 2018 inclusive. Accordingly, the reported figures corresponding to FY19 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of FY19 and vs. FY18 mentioned in this press release correspond to "figures restated by inflation" or "constant".
Moody's Investors Service ("Moody's") has downgraded the ratings for several non-financial companies operating in Argentina, and all ratings were placed under review for downgrade. The actions follow the downgrade of the Argentine government's bond rating to Caa2 from B2, also placed on review for downgrade, on August 30, 2019.
New York, April 07, 2020 -- Moody's Investors Service, ("Moody's") has downgraded the ratings for several non-financial companies operating in Argentina. This concludes the review for downgrade initiated on 3 September 2019. The actions follow the downgrade of the Government of Argentina's bond rating to Ca from Caa2, with the outlook changed to negative from ratings under review, on April 3, 2020.
Moody's Investors Service ("Moody's") has downgraded the ratings for several non-financial companies operating in Argentina, and all ratings were placed under review for downgrade. The actions follow the downgrade of the Argentine government's bond rating to Caa2 from B2, also placed on review for downgrade, on August 30, 2019.