S&P rates DKT Finance notes B-

S&P said it assigned its B- rating to the €1.4 billion equivalent senior notes to be issued by DKT Finance ApS, parent of TDC A/S (B+/stable/B).

The recovery rating is 6, reflecting an expectation of negligible recovery (rounded estimate 0%) in the event of a payment default.

The total amount will likely be split into a euro tranche and a U.S. dollar tranche, and the relative size will be determined during syndication, S&P said.

The agency’s issue and recovery ratings on TDC's outstanding instruments are unchanged.

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