Fitch upgrades YPF to 'B-' on the back of Argentina's sovereign lift
Ratings agency Fitch has upgraded YPF, Argentina's state-controlled oil company, to 'B-', Investing.com reports. The move followed an improvement in the country's sovereign credit rating.
Fitch has raised the long-term credit rating of YPF, Argentina's state-controlled oil and gas company, to 'B-', Investing.com reports. The agency said the move was tied to an improvement in the country's sovereign credit rating.
The ratings of companies in which the state holds a significant stake are often closely linked to the creditworthiness of their home country, so an upward revision at the sovereign level can flow through to firms such as YPF. The upgrade is seen as a signal that could affect the company's international borrowing conditions.
The report frames the development as pointing to a gradual improvement in perceptions of Argentina's economy. This article is for information only and does not constitute investment advice.
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