Moody's cuts outlook on 30 Argentine banks

Rating agency Moody's changed to negative the rating outlook on 30 rated argentine financial institutions today.

Moody's cut the outlook to negative from stable as a reflection of the ratings firm's outlook change on the country last week.

Moody's said the banks' outlook change incorporates risks stemming from increased government interventions, such as tighter foreign exchange controls and enforcement of interest rate caps on credit cards.

The affected financial institutions include Banco Comafi S.A., Banco de Galicia y Buenos Aires S.A.and Banco Macro S.A.

Moody's rates Argentina at B3.