S&P rates Paraguay notes BB

S&P said it assigned its BB issue rating to Paraguay’s $600 million of notes due 2033, at a 2.739% interest rate. Paraguay also raised about $226 million through a reopening of its international bond due 2050.

“The rating on the notes is the same as the long-term foreign currency sovereign credit rating on Paraguay (BB/stable/B),” the agency said in a press release.

The government will use the proceeds for general budgetary purposes and for liability management operations.

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