YPF bets on cash flow to cut foreign debt

YPF bets on cash flow to cut foreign debt

Corporate & Sovereign Strategy Debt Capital Markets Asset Management Argentina Gas Oil Regulation

YPF, the biggest energy company in Argentina, plans to continue a strategy of using free cash flow from rising sales to pay down debt in foreign currency as tight capital controls make it hard to service them, CFO Alejandro Lew said on Thursday. "We have continued with an active asset management approach to minimize FX exposure," Lew said on a conference call with investors. The move is in response to regulations that "restrict our ability to hold assets abroad," he added. These restrictions on

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