S&P rates Paraguay notes BB

S&P said it assigned its BB issue rating on Paraguay's expected offering of up to $500 million senior notes due 2048.

Paraguay will use the proceeds of the issuance to finance mainly capital expenditures on transportation and urban infrastructure and to refinance a portion of its outstanding debt.

The rating on the notes is the same as the long-term foreign currency sovereign credit rating on Paraguay, the agency said.

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