Moody's drops Chaco

Moody's Investors Service said it changed to D(ar) from Ca(ar) the rating assigned to the Province of Chaco's co-participation tax revenue secured notes initially denominated in dollars and "pesified" in February 2002.

The agency said payment on these bonds continues in default while the Ca global-scale rating is unchanged and the outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.