Moody's changes outlook on Argentine banks deposits and debts ratings to stable from negative

Moody's Latin America Agente de Calificación de Riesgo S.A. (MLA) has today changed the outlook on 34 Argentine banks, finance companies, and securities firms' to stable from negative. The rating actions follow Moody's Investors Service decision on November 2 to change the outlook on Argentina's Caa1 local currency government bond rating to stable from negative (please see "Moody's changes outlook on Argentina's Caa1/(P)Caa2 ratings to stable from negative; Caa1/(P)Caa2 ratings affirmed"). The banks rating actions take into account the high underlying inter-linkages between the banks' standalone credit risk profiles and that of the sovereign.

At the same time, Moody's lowered the national scale local currency deposit rating, and the senior unsecured debt rating and debt program ratings in local currency of BST of Banco de Servicios y Transacciones (BST) to Ba1.ar from Baa3.ar and upgraded the national scale local currency deposit rating of Banco del Chubut (Chubut) to Baa1.ar from Baa2.ar. In addition, Moody's has placed under review for possible downgrade the Aaa.ar national scale local currency deposit rating of Deutsche Bank (Argentina), following the announcement of the bank's parent, Deutsche Bank AG, that it plans to exit Argentina. Moody's also affirmed the deposit, debt, issuer and corporate family ratings of all other rated Argentine banks, finance companies, and securities firms as well as banks' counterparty risk assessments, baseline credit assessments and adjusted baseline credit assessments.