Fitch gives Banco Macro notes B/RR4

Fitch Ratings said it assigned an expected rating of B(EXP)/RR4 to Banco Macro SA's upcoming issuance of Argentine peso-denominated senior unsecured medium-term notes.

The upcoming issuance will be for an amount up to the equivalent of $300 million, denominated in Argentine pesos but payable in dollars as calculated by the calculation agent by converting the Argentine peso amounts due into dollars at the applicable exchange rate on the relevant calculation date.

Fitch said the ratings are at the same level as Banco Macro’s long-term local currency issuer default rating of B. The notes will rank pari passu with all other existing and future senior unsecured debt.

© 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.