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S&P rates Nautilus Inkia notes BB-
S&P said it assigned its BB- issue-level rating to Nautilus Inkia Holdings LLC, Nautilus Distributions Holdings LLC and Nautilus Isthmus Holdings LLC's proposed $200 million senior unsecured bullet notes due in 2028, which they intend to co-issue, jointly and severally.
The entities will use the proceeds from the notes to fully repay an existing bridge loan used to acquire a minority stake in two Peruvian assets, Kallpa Generacion SA and Samay ISA.
“We base our BB- rating on the proposed issuance on our view that the co-issuers are core subsidiaries for its ultimate parent, Nautilus Energy Holdings LLC (Nautilus; not rated) given their importance to the group's long-term strategy, and the level of integration and synergies among the members of the group,” S&P said in a news release.
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