YPF Files 6-K with Argentine Securities Commission Update

TL;DR

YPF filed a 6-K on Jan 15, 2025, updating its status with Argentine regulators.

AI Summary

YPF Sociedad Anónima filed a Form 6-K on January 15, 2025, reporting a translation of a letter to the Argentine Securities Commission (CNV) dated January 15, 2024. The filing also includes information related to Mercado Abierto Electrónico S.A. (MAE) and Bolsas y Mercados Argentinos S.A. (ByMA).

Why It Matters

This filing provides an update on YPF's communications with Argentine regulatory bodies, which could impact investor understanding of the company's compliance and reporting status.

Risk Assessment

Risk Level: low — The filing is a routine report of foreign private issuer information and does not appear to contain significant new financial or operational disclosures.

Key Players & Entities

• YPF Sociedad Anónima (company) — Registrant
• Comisión Nacional de Valores (company) — Argentine Securities Commission
• Mercado Abierto Electrónico S.A. (company) — Argentine electronic market
• Bolsas y Mercados Argentinos S.A. (company) — Argentine stock exchange
• January 15, 2025 (date) — Filing date
• January 15, 2024 (date) — Date of translated letter

FAQ

Key Financial Figures

• $112 million — nominated in US dollars and amounted to $112 million as of 31 August 2024, with a cash to to

Filing Documents

• d914268d6k.htm (6-K) — 57KB
• g914268g0115061424614.jpg (GRAPHIC) — 2KB
• g914268g0116004704444.jpg (GRAPHIC) — 4KB
• 0001193125-25-007068.txt ( ) — 67KB

From the Filing

6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2025 Commission File Number: 001-12102 YPF Sociedad Anónima (Exact name of registrant as specified in its charter) Macacha Güemes 515 C1106BKK Buenos Aires, Argentina (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-FForm 40-F YPF Sociedad Anónima TABLE OF CONTENT ITEM1 Translation of letter to the Argentine Securities Commission ( Comisión Nacional de Valores ) dated January 15, 2024 COMISION NACIONAL DE VALORES (CNV) May 25, 175 MERCADO ABIERTO ELECTRÓNICO S.A. (MAE) Maipu 1210 BOLSAS Y MERCADOS ARGENTINOS S.A. (ByMA) Sarmiento 299 Aires Present Ref : YPF S.A. Improvement of Credit Rating Dear Sir or Madam, We are writing to you in compliance with the requirements of the CNV Rules and the corresponding ByMA and MAE regulations. On January 14, 2025, Moodys Ratings (Moodys) upgraded the ratings of the unsecured debt securities ( obligaciones negociables no garantizadas ) and secured debt securities ( obligaciones negociables garantizadas ) to Caa1 from Caa3. The rating of the medium-term notes program was upgraded to (P)Caa1 from (P)Caa3. Moodys has also assigned a Caa1 CFR rating to YPF S.A., withdrawing its Caa3 issuer rating. Please find attached the report dated January 14, 2025, issued by Moodys and published on their website ( https://ratings.moodys.com ). Sincerely, Margarita Chun Market Relations Manager YPF S.A. Rating Action: Moodys Ratings upgrades the ratings of Argentinean non-financial companies following the raise of country ceilings 14 Jan 2025 New New York, January 14, 2025 Moodys Ratings (Moodys) has taken rating actions on several companies operating in Argentina. These actions were prompted by the raise of Argentinas country ceilings, to Caa1 from Caa3 in the case of foreign currency (FC) and to B3 from Caa1 in the case of local currency (LC). For further information on the ceilings change, please refer to our announcement dated 8 January 2025 (Moodys Ratings raises Argentinas local and foreign currency ceilings to B3 and Caa1, espectively); https://ratings.moodys.com/ratingsnews/435363 ). ISSUERS AND RATINGS AFFECTED Arcor S.A.I.C.s Corporate Family Rating (CFR) was upgraded to Caa1 from Caa2. The outlook remains stable. Pan American Energy, S.L.s (PAE) CFR was upgraded to B3 from Caa1. Similarly, Pan American Energy, S.L., Argentine Branchs (PAE Argentine Branch) backed senior unsecured notes were upgraded to B3 from Caa1, reflecting the rating of PAE, which fully guarantees the notes. The outlook remains stable. Raghsa S.A.s CFR and senior unsecured notes ratings were upgraded to Caa1 from Caa2. The outlook remains stable. Telecom Argentina S.A.s CFR was upgraded to Caa1 from Caa3. The outlook remains stable. Vista Energy Argentina S.A.U. s CFR and senior unsecured notes rating were upgraded to Caa1 from Caa2. The outlook remains stable. YPF Sociedad Anonimas senior unsecured notes ratings and senior secured notes rating were upgraded to Caa1 from Caa3. The rating of the medium-term notes program was upgraded to (P)Caa1 from (P)Caa3. We have also assigned a Caa1 CFR to YPF, and we have withdrawn its Caa3 issuer rating. YPFs Baseline Credit Assessment (BCA) was upgraded to caa1 from caa3. The outlook remains stable. RATINGS RATIONALE The recently announced decision to raise Argentinas LC and FC ceilingswhich indicate the highest rating level that generally can be assigned to the financially strongest obligations of issuers domiciled in a countrywas based on improved economic policy predictability and consistency, which have significantly reduced monetary and fiscal imbalances. The government has eased restrictions on crossborder payments and foreign exchange convertibility, increasing FC liquidity despite low capital account openness. Additionally, the governments reduced intervention in the economy suggests a lower risk of transfer and convertibility issues, which reduces the chance of those risks affecting banks FC obligations repayment capacity. Still, the creditworthiness of these companies cannot be completely de-linked from the credit quality of the Argentinean government, and thus their ratings need to closely reflect the risk that they share with the sovereign. We view that there is presently a limit to the rating of these issuers in relation to the sovereign ratings in line with Moodys Rating Methodology Assessing the Impact of Sovereign Credit Quality on Other Ratings published on June 20, 2019, and available on https://ratings.moodys.com/rmc-documents/60258 . Arcor S.A.I.C. Arcor S.A.I.C.s (Arcor) rating is supported by i

View Full Filing

View this 6-K filing on SEC EDGAR