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Fitch rates Elis notes BB
Fitch Ratings said it assigned Elis SA's 500 million 1Ύ% notes due 2024 a senior unsecured rating of BB.
Elis intends to use the proceeds from the new issue to repay part of its 800 million 3% notes due 2022.
The notes are rated at the same level as Elis's BB issuer default rating.
The notes are issued under the 3 billion euro medium-term note program, they are unsecured obligations of Elis and guaranteed by MAJ, the group's main operating subsidiary, which owns most of the other operating subsidiaries and acts as head of the group's cash pooling structure.
The notes rank pari passu with all other unsubordinated, unsecured indebtedness of Elis, the agency said in a news release.
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