Argentina, Government of -- Moody's changes Argentina's outlook to positive from stable; Caa1/(P)Caa2 ratings affirmed

New York, November 24, 2015 -- Moody's Investors Service (Moody's) has today changed the outlook on Argentina's Caa1 issuer rating to positive from stable. The outlook on Argentina's (P)Caa2 foreign legislation and restructured local legislation foreign currency obligations is also changed to positive from stable. The outlook change is based on Moody's view that the accession of president-elect Mauricio Macri of the Cambiemos ("Let's Change") coalition will raise the probability of credit positive policies being implemented, including arriving at a resolution with holdout creditors, one of Argentina's key credit constraints.

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