S&P rates Interpipe B+

Standard & Poor's said it assigned its B+ rating to Interpipe Ltd.'s proposed senior unsecured bond. Interpipe, which is rated B+ with negative outlook, is a producer of steel pipes and rail wheels.

The bond is rated the same as the corporate credit rating, reflecting a fairly small amount of secured debt versus assets, the agency said. The proceeds will be used to fund planned material capital expenditure, distribute dividends and refinance existing debt.

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