December 1, 2009
S&P has placed $250m in guaranteed bonds issued by Argentine province N
S&P has placed $250m in guaranteed bonds issued by Argentine province Neuquen on credit watch negative, it says, following last week’s announcement that it intends hold an exchange offer for them. The province plans to offer investors new bonds for the 2014 series 1 guaranteed amortizing bonds, which have a B minus global and AA national rating. Specific details have not been announced, but the province intends to offer up to $200m in new bonds as it looks to extend the debt profile.