Moody's assigns Baa3 to CMPC notes

Moody's Investors Service said it assigned a Baa3 rating to the planned senior unsecured sustainability-linked global notes due in 2033 to be issued by Inversiones CMPC SA that will be guaranteed by Empresas CMPC SA.

“The Baa3 ratings on CMPC's existing notes remain unchanged,” the agency said in a press release.

The proceeds will be mostly used to finance or refinance expenditures and investments in one or more eligible green projects of CMPC or any of its subsidiaries and/or affiliates.

“The purpose of the transaction is mainly to extend the company's debt maturity profile and will not result in additional cash proceeds, increase in the company's indebtedness or leverage,” Moody’s said.

The outlook is stable.

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