Fitch rates Interpipe notes B+

Fitch Ratings said it assigned Interpipe Ltd.'s proposed issue of notes expected senior unsecured B+ and recovery rating of 4, and affirmed its issuer default rating at B+ with stable outlook and short-term issuer default rating at B. The final ratings are contingent on receipt of final documents.

The expected rating is in line with Interpipe's issuer default rating. Proceeds from the loan will be used to refinance short-term debt, pay a special dividend to adjust the capital structure and fund capital expenditure.

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