New York, March 18, 2016 -- Moody's Investors Service (Moody's) has assigned a Caa1 global foreign currency rating to YPF Sociedad Anonima's (YPF)'s proposed USD 1 billion in notes due in 2021. These notes will be issued in the global capital markets. The proceeds of the notes will be used for capital expenditure and working capital purposes. The outlook on the ratings is positive.

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