Fitch rates CAP notes BBB-

Fitch Ratings said it gave a BBB- rating to CAP SA’s proposed $300 million of senior unsecured notes due 2031.

The agency affirmed CAP’s BBB- senior unsecured rating on March 5.

Proceeds will be used for general corporate purposes including debt refinancing.

“The overall transaction will allow CAP to improve its already-robust liquidity. New bond issuance is not expected to increase the company's net leverage ratio,” Fitch said in a press release.

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