Buenos Aires City, March 19, 2014 -- Moody's Latin America Agente de Calificación de Riesgo today downgraded various ratings of Argentine banks and financial institutions. Some rating actions conclude the review for downgrade on 16 ratings Moody's initiated 20 February 2014. The potential adverse effects of economic policy decisions that have led to very high inflation, currency depreciation, capital flight and economic stagnation motivated that review. Some rating actions follow Moody's 17 March 2014 downgrade of the Argentine government bond rating to Caa1 with stable outlook from B3 with negative outlook, which also adjusted the local-currency and foreign-currency bank deposit and bond ceilings for Argentina. Finally, Moody's has reassessed its assumptions about the probability of government support for Argentinean banks. With the exception of one bank whose ratings are on review for downgrade, the outlook on the ratings of the banks is stable.

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