S&P cut the Impsa/WPEIC credit rating from to D from CC over missed obligation payments in Argentina, as the company undergoes a financial restructuring that includes the sale of power assets in Brazil.
The company's local currency and dollar-denominated securities VIII, IX X and XI were also downgraded to D from CC negative. Its senior unsecured Series I issue was reaffirmed at CC, though under special revision status.
According