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S&P rates Ethiopia bond B
Standard & Poor's said it assigned its B long-term issue credit rating to the proposed senior unsecured bond to be issued by the Federal Democratic Republic of Ethiopia (B/stable/B).
The amount, interest rate, maturity and other details of the bond will be determined during the placement.
The proposed bond is Ethiopia's maiden bond issuance in the international markets.
Proceeds will be used to fund government capital expenditures, which include development of industrial zones and of the sugar and energy industries, as well as general budgetary expenses.
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