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Moody's rates Industrial Senior notes Baa3
Moody's Investors Service said it assigned a Baa3 foreign currency senior unsecured debt rating to the proposed issuance of U.S. dollar fixed-rate notes in maturities of up to ten years by Industrial Senior Trust.
Industrial Senior Trust is a Cayman Islands-based trust established for the sole purpose of acquiring a 100% participation interest in a senior unsecured loan made by Bank of America to Guatemala's Banco Industrial SA to secure the issuance.
Moody's said the Baa3 foreign currency senior unsecured debt rating assigned to Industrial Senior Trust's proposed notes is based on Banco Industrial's Baa3 local currency equivalent.
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