Fitch upgrades YPF to CCC

Fitch upgrades YPF to CCC

Bonds Credit Ratings Fitch Ratings Upgrade Debt Fixed Income Asset Management Capital Markets Energy Oil Gas Argentina

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

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