S&P rates IENova notes BBB

S&P said it assigned its global scale foreign currency BBB rating to Infraestructura Energetica Nova, SAB de CV's proposed senior unsecured notes of up to $800 million, due in up to 30 years.

“The rating on the senior notes is at the same level as our global scale issuer credit rating on IENova, given that the new debt is not structurally subordinated, and its capital structure mostly consists of unsecured debt,” S&P said in a press release.

IENova intends to use the proceeds to pay down short-term debt and for general corporate purposes.

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