Buenos Aires City, December 04, 2013 -- Moody's Latin America has downgraded the insurance financial strength (IFS) ratings of MAPFRE Argentina Seguros S.A. ("MAPFRE Seguros") and MAPFRE Argentina Seguros de Vida S.A. ("MAPFRE Vida"), both to B1 from Ba3 on the global local currency (GLC) scale, and both to Aa3.ar, from Aa2.ar, on Argentina's national scale (NS). The downgrade of the insurers' ratings concludes a review for possible downgrade initiated on August 29, 2013. The outlook for the companies' ratings is negative.

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