S&P rates Crown European notes BB+

S&P said it assigned its BB+ issue-level rating to Crown European Holdings SA's proposed €550 million senior notes.

The company's parent, Crown Holdings Inc., will guarantee the notes.

S&P said it expects the company to use the proceeds to repay borrowings under its existing term loans.

All of S&P’s other ratings on Crown Holdings and its subsidiaries remain unchanged, including the BB+ issuer credit rating, the agency said.

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