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| Prospect News home > News index > List of issuers L > Headlines for Lumen Technologies, Inc. > News item |
S&P gives Lumen notes BB-
S&P said it assigned its BB- issue-level and 5 recovery ratings to Lumen Technologies Inc.'s expected $1 billion of senior unsecured notes due 2029. The 5 recovery rating indicates our expectation for modest (10%-30%; rounded estimate: 15%) recovery in default.
The assigned ratings are the same as that of Lumen’s other senior unsecured notes.
The company will use the proceeds and cash, for general corporate purposes, including to repay its debt maturing in 2021.
The BB issuer credit rating and stable outlook on the company are unchanged, the agency said.
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