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S&P rates Willis loan BBB-
Standard & Poor's said it assigned a BBB- senior unsecured debt rating to Willis North America Inc.'s $700 million five-year senior term loan and $300 million five-year revolving credit line.
Proceeds will help fund the acquisition of Hilb Rogal & Hobbs for $2.1 billion, including the assumption of $400 million of debt.
The outlook is negative.
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