Chaco, Province of -- Moody's changes outlook to stable from negative of all Argentine provinces and municipalities; ratings affirmed

Buenos Aires City, November 04, 2015 -- Moody's Latin America Agente de Calificación de Riesgo (Moody's) changed the outlooks on the assigned issuer ratings of all Argentine provinces and municipalities to stable from negative. In the same rating action Moody´s also affirmed the Global Scale local currency issuer and debt ratings and on Argentina National Scale of all sub-sovereigns rated in Argentina. This rating action follows Moody's outlook change to stable from negative on Argentina's Caa1 issuer ratings --in local and in foreign currencies- announced November 2nd, 2015.

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