Banco Macro Notes Get Provisional Ba1 Rating

Moody’s has assigned a provisional (P)Ba1 global local currency rating to Banco Macro $100m senior unsecured Argentine peso-linked notes due 2012. The notes, to be issued under Macro’s existing $400m MTN program are expected to price this week. Moody’s also assigned a provisional (P)Aa1.ar local currency debt rating on the Argentine national scale to the notes due to an option to make payment on the notes in pesos, “in the event of legal or regulatory restrictions or any other reason beyond Banco Macro’s control”. The outlook on the ratings is stable.