Announcement:
Moody's Publishes Covenant Quality Assessment for YPF Sociedad Anonima Bond Offering
Global Credit Research - 11 Feb 2014
New York, February 11, 2014 -- Moody's Publishes Covenant Quality Assessment for YPF Sociedad Anonima Bond Offering
Moody's Investors Service has assigned an overall covenant quality score of 3.09 to YPF Sociedad Anonima's US$500m 8.875% Senior Notes due 2018. Subscribers can read the full report at:
https://www.moodys.com/researchdocument ... PBC_164339 Moody's scores covenant protections on a five-point scale, with 1.0 denoting the strongest covenant protections for investors and 5.0, the weakest. YPF Sociedad Anonima's score compares with the US average of 3.53 and the Latam peer group average of 3.23.
Moody's Covenant Quality Snapshots assess investor protections in six key risk categories: Cash leakage (dividends), Risky investments, Leveraging, Lien subordination, Structural subordination and Change of control.
View the scores of similar issues:
www.moodys.com/covenantscores
See Moody's Covenant Quality Scoring Criteria:
https://www.moodys.com/researchdocument ... PBC_150958
Kyle Goodwin
Associate Analyst
Corporate Finance Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Alexander Dill
VP - Head of Covenant Research
Corporate Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653