S&P rates Paraguay BB

S&P said it assigned its BB issue rating to Paraguay's $500.6 of million notes due 2033, at a 3.849% interest rate.

“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.

Paraguay used the proceeds to repurchase $221 million of outstanding bonds due 2023 and $80 million due 2026, as part of a liability management operation and will use the remaining funds for general budgetary purposes.

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