Buenos Aires City, July 05, 2016 -- Moody's Latin America Agente de Calificación de Riesgo (Moody's) assigned a B3/Baa3.ar ratings to Petrobras Argentina S.A.'s (PESA, B3 negative) proposed up to $500 million in senior unsecured notes. The use of proceeds of the proposed notes will be to repay existing $300 million guaranteed notes (rated B3/Baa3.ar negative) due 2017 as well as for capital expenditures and working capital. PESA's B3 corporate family rating and negative outlook remain unchanged. The outlook on all ratings is negative.

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