S&P rates Lufthansa notes BB-

S&P said it assigned its BB- issue rating to the proposed senior unsecured notes due 2026 to be issued by Deutsche Lufthansa AG. The recovery rating is 3, indicating meaningful recovery prospects (50%-70%; rounded estimate: 65%) in the event of a payment default.

“We rate the proposed notes at the same level as our long-term issue credit rating on Lufthansa (BB-/negative),” S&P said in a press release.

Proceeds are expected to be used for general corporate purposes.

The ratings on Lufthansa’s outstanding senior unsecured debt are unchanged, the agency said.

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