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Creditor group rejects YPF's newest debt exchange proposal -statement

NEW YORK, Feb 2 (Reuters) - The Ad Hoc bondolder group of YFP creditors on Tuesday rejected the Argentine energy company’s amended debt exchange offer from earlier this week, the creditors said in a statement.

The amended offer expires on Friday and the group said its members won’t tender their bonds under the current proposal.

The group acknowledged that YPF’s latest offer is an improvement on previous terms, but “fails to provide a balanced solution,” including “appropriate treatment” for bonds maturing next month.

The creditor group said it submitted a counter-proposal “that would provide additional cash flow flexibility and interest savings over the next several years with below-market interest rates,” according to the statement. (Reporting by Rodrigo Campos)

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