MOODY'S RAISES CHACO PROVINCE TO B3 AND A3.AR, AND ASSIGNS

From: Info-Prod Research (Middle East) | Date: December 20, 2007 | Copyright information

RATINGS TO NEW BONDS US$40.4 MILLIONMoody's has raised the issuer ratings ofthe Province of Chaco to B3 (global scale) and A3.ar (Argentina nationalscale), from Ca and D.ar, respectively. The rating outlook is stable. Atthe same time, Moody's assigned ratings of B3 and A3.ar to the Province'sUS$40.444 million (4% coupon) Coparticipation Tax Revenue Secured Notesdue 2026, and withdrew the Ca and D.ar ratings that had been assigned tothe Province's US$50 million (16.5% coupon) Coparticipation Tax RevenueSecured Notes due 2008. The newly rated bonds are being issued as arestructuring of the ...

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