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Moody's rates Pearson notes Baa1
Moody's Investors Service said it assigned a Baa1 backed senior unsecured credit rating to the proposed $500 million of senior notes to be issued by Pearson Funding Five plc, a newly created borrowing vehicle wholly owned by Pearson plc.
The notes are guaranteed irrevocably and unconditionally by Pearson plc on a senior unsecured basis.
The outlook is stable.
Other existing ratings of Pearson and its affiliates as well as the stable outlook remain unchanged.
Moody's said the rating is at the same level as Pearson's existing issuer and senior unsecured rating, because the notes are guaranteed on a senior unsecured basis by Pearson.
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