NEW YORK (Standard&Poor's CreditWire, Nov. 14, 2000---Standard&Poor's today downgraded the foreign and local currency rating of four private and public sector entities in Argentina (See list below). In addition, Standard&Poor's placed the ratings of Compañia de Alimentos Fargo S.A. on CreditWatch with negative implications. At the same time, Standard&Poor's maintained the CreditWatch standing with negative implications assigned to the ratings of several private sector entities on Nov. 1, 2000. These ratings will be reviewed individually and their ratings status resolved over the near term. The impact of various economic, market, and indirect sovereign (particularly regulatory) stresses will be factored into the rating outcomes. These actions follow the adjustment to the sovereign foreign
