S&P assigns BB to Paraguay notes

S&P said it assigned its BB issue rating to Paraguay's $500 million of notes due 2033, at a 5.85% 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.

The government will use the bulk of the proceeds for general budgetary purposes.

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