S&P rates NOS notes BBB-

S&P said it assigned a BBB- rating to the €300 million senior unsecured notes issued by NOS, SGPS, SA.

The proceeds will be used to repurchase and repay outstanding debt, S&P said.

The rating on the notes is at the same level as the long-term issuer credit rating on NOS, reflecting the absence of significant subordination risk, further supported by the company's low leverage, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.