S&P rates CGI notes BBB+

S&P said it assigned its BBB+ issue-level rating to CGI Inc.'s planned U.S. $1 billion of unsecured notes, to be issued in two tranches of different maturities.

“The issue-level rating is in line with our BBB+ long-term issuer credit rating on CGI because no significant elements of subordination risk exist,” the agency said in a press release.

CGI plans to use proceeds to repay in full borrowings under its unsecured committed term loan credit facility maturing in March 2023.

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