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-Banco de Galicia y Buenos Aires gets ratings from Moody's for debt programme.

BANKING AND CREDIT NEWS-April 11, 2011--Banco de Galicia y Buenos Aires gets ratings from Moody's for debt programme(C)2011 M2 COMMUNICATIONS

11 April 2011 -- Moody's said it gave (P)Ba3/(P)B2 global and national scale local/foreign currency debt ratings to Argentine lender Banco de Galicia y Buenos Aires SA's (BUE:GALI) senior debt programme in the amount of USD342.5m (EUR236.9m) or its equivalent in other currencies.

The programme is governed by New York law, the agency noted.

The expected first issue under the programme of up to USD300m was set a B2 global foreign currency debt rating and a national scale foreign currency debt rating.

The outlook on the global ratings is "stable".

The local currency senior unsecured debt rating is derived from the bank's Ba2 global local currency deposit rating, the agency said. Moody's added that it took into account seniority in the assignment of the debt ratings.

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 11, 2011
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