S&P rates 407 notes A

S&P said it assigned an A rating to 407 International Inc.’s C$500 million of senior secured notes due in 2053.

The ratings on the company's outstanding senior, junior, and subordinate debt are unchanged at A, A- and BBB, respectively, the agency said.

It will use the proceeds to fund expenditures, debt service payments, tax payments and general corporate purposes, including distributions.

The outlook is stable.

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