Moody's Downgrade Puts Repsol Rating Closer to Junk

摘要

Repsol suffered another blow on Tuesday, when Moody's downgraded its credit rating by one notch, following a similar move by Fitch last week. Moody's cut Repsol's long-term issuer rating and senior unsecured debt ratings to Baa3 from Baa2, pushing it closer to the sub-investment grade status it is struggling to avoid following the loss of its Argentine affiliate YPF (IOD May30'12).