February 19, 2021
Fitch Ratings said Thursday that it upgraded the long-term ratings for Argentina's YPF to CCC after the state-owned energy company struck a deal last week to swap $2.1 billion in international bonds.
Following the debt exchange, YPF will likely save around $105 million in annual interest payments through 2022, money that the company can use to increase production. But from 2023 to 2025, YPF's annual interest payments will be roughly $50 million higher than before the debt exchange, Fitch said in
Rating agency says Argentina's state-owned energy will save around $105 mln in annual interest payments after a recent restructuring deal