NEW YORK (Standard&Poor's) July 1, 2014--Standard&Poor's Ratings Services said today that its ratings, outlooks and CreditWatch listings on nonsovereign entities (including corporate companies, financial institutions and public finance entities) are not immediately affected by our placement of the Republic of Argentina (foreign currency: CCC-/Watch Neg/C; local currency: CCC+/Negative/C) on CreditWatch with negative implications. Because our 'CCC-' transfer&convertibility (T&C) assessment on Argentina remains unchanged, we don't expect additional restrictions on the ability of nonsovereign entities to convert and transfer monies abroad to service debt; therefore, our foreign currency ratings on these entities remain unaffected. Additionally, most of the local currency ratings on these entities were already on CreditWatch with negative implications, until we can further
