S&P rates Petrofac notes BBB+

Standard & Poor's said it assigned its BBB+ issue rating to the proposed unsecured notes to be issued by Petrofac Ltd. (BBB+/stable/A-2).

S&P said it understands that the proposed notes will constitute direct, unsecured and unsubordinated obligations of Petrofac and will rank pari passu with Petrofac's existing bank debt and with all its other present and future unsecured and unsubordinated obligations.

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