DBRS rates 407 International notes A

DBRS said it assigned a rating of A to the C$500 million series 18-A1 senior notes of 407 International Inc.

The trend is stable.

Proceeds will be used to repay principal amounts owed under the company’s credit facilities, fund the series reserve account in respect of the notes and for general corporate purposes.

The notes rank pari passu with all other senior obligations of 407, the agency said.

Correspondingly, the A rating and stable trend are consistent with the ratings and trends currently assigned to the company’s senior debt, DBRS said.

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