Repsol-YPF credit rating lowered to "BBB" by S&P

Spain-based energy group Repsol-YPF SA's long-term credit rating was lowered to "BBB" from "BBB+" by global rating agency Standard & Poor's on concerns over the economic situation in Argentina.

The long-term rating outlook is defined as negative

"The rating actions, which follow Repsol's March 1, 2002, release of fourth-quarter 2001 results, reflect Standard & Poor's view that the Argentinean economic and fiscal...