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Moody's forecasts minimal change from Argentina's IFRS adoption

Bnamericas Published: Thursday, December 13, 2012
Moody's Investors Service does not expect Argentina's adoption of international financial reporting standards (IFRS) to have a broad impact on local companies' credit ratings, according to a Moody's report. "While transition to IFRS will lead to some changes in Argentine companies' reported credit metrics, a change in the language used to communicate them usually will not significantly affect a company's economic position," according to the report. However, individual firms may be affected if adopting IFRS highlights previously unseen risks, the report said. Moody's expects IFRS adoption to generally improve financial reporting in Argentina. "Furthermore, we expect that the resulting reduction in cross-border differences will improve analysts' and investors' ability to compare global peer groups." Last October the IMF warned Argentina it risked receiving a " red card" if it failed to improve the quality and accuracy of its GDP and inflation figures.

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