DBRS rates 407 notes BBB

DBRS said it assigned BBB ratings to the C$350 million of series 22-D1 subordinated medium-term notes and to the C$325 million of series 22-D2 subordinated MTNs of 407 International Inc.

The ratings are based upon an already-outstanding series of the above-mentioned debt instrument, the agency said.

The issuer intends to use the proceeds to refinance its series 17-D1 of subordinated bonds and for general corporate purposes.

The trend is negative.

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