S&P rates Malurus I notes BBB+

S&P said it assigned its BBB+ debt rating to the series 2020-1 senior secured notes issued by Malurus I LLC, an indirect subsidiary of Citigroup Inc. Citigroup's guarantee serves as the basis of the rating.

Malurus is a Delaware-based limited purpose, series limited liability company, or special purpose vehicle.

“We believe Citigroup issues debt from the Malurus series as a way to diversify its funding sources and uses the proceeds for general corporate purposes,” said S&P in a press release.

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