Petrobras Argentina S.A. -- Moody's downgraded Petrobras Argentina's notes to Baa3 from Baa2; maintained Baa3/Aaa.ar ratings on review for downgrade

Buenos Aires City, February 25, 2015 -- Moody's Latin America Agente de Calificacion de Riesgo has downgraded Petrobras Argentina S.A.'s (Petrobras Argentina) USD 300 million in guaranteed Series S notes (CUSIP 71646JAB5) to Baa3/Aaa.ar from Baa2/Aaa.ar. The downgrade reflects Moody's Investors Service downgrade of Petrobras S.A.'s (Petrobras) global debt ratings to Baa3 from Baa2 on January 29th, 2015. The ratings remain on review for further downgrade. Due to an internal administrative error, this rating action, effective February 3rd, 2015, was previously missed.

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