YPF says funding secure despite Argentina debt default


Argentina's YPF (YPF +1.2%) has enough cash and local funding sources to weather a sovereign default that has blocked it and other companies from international debt markets, CFO Daniel Gonzalez said in today's earnings conference call.

The CFO said YPF had 11.4B pesos ($1.4B) in cash on its balance sheet at the end of June, and the company can lean on its credit lines with local banks, tap a $1B credit line with the federal government and, if necessary, adjust its capital spending.

"We don´t have any plans for accessing international markets for now," Gonzalez said, but "you shouldn't be surprised" if YPF re-enters the market to rebuild its cash position if the sovereign default situation gets resolved.

From other sites
Comments (1)
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    can we trust this lying and defaulting argentine govt?
    8 Aug 2014, 01:10 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs