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S&P assigns Toll Brothers Finance notes BB+
S&P said it assigned a BB+ rating with a recovery rating of 3 to Toll Brothers Finance Corp.’s proposed offering of senior notes due 2029. The 3 recovery rating indicates S&P’s expectation for a meaningful (50%-70%, rounded estimate: 65%) recovery in the event of a default.
The company’s parent Toll Brothers Inc. will guarantee the notes.
Proceeds will be used for general corporate purposes.
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