La Segunda ART -- Moody's takes action on Argentine insurers and reciprocal guarantors following sovereign outlook change to positive

Buenos Aires City, November 30, 2015 -- Moody's Latin America Agente de Calificación de Riesgo ("Moody's") affirmed the global local currency (GLC) and national scale (NS) insurance financial strength (IFS) ratings of 14 insurers and 7 reciprocal guarantors in Argentina. The outlook of 6 insurers was changed to positive from stable, while the outlook of the other 8 insurers and all 7 reciprocal guarantors remains stable. In the same rating action, Moody's placed on review for upgrade ACE Seguros' ratings. See a complete list of companies and ratings/outlooks below.

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