Buenos Aires City, February 24, 2016 -- Moody's Latin America Agente de Calificación de Riesgo, ("Moody's) downgraded to B3/A3.ar from Ba3/Aaa.ar the national scale rating on Petrobras Argentina S.A. (PESA)'s USD 300 million in guaranteed Series S notes (CUSIP 71646JAB5). The rating actions reflect Moody's Investors Service's rating action on February 24, 2016 of downgrading Petróleo Brasileiro S.A. - PETROBRAS's (Petrobras, the guarantor) global debt ratings to B3 from Ba3. The ratings outlook for all ratings changed to negative.

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