S&P gives Altarea notes BBB

S&P said it assigned its BBB issue-level rating to Altarea SCA's €500 million existing senior notes due 2024.

The issue rating is aligned with the issuer credit rating on Altarea, the agency said.

“The company's total secured debt represent around 15% of the fair market value of assets, well below our 40% threshold from which we typically rate senior unsecured debt one notch lower than the issuer credit rating,” S&P said in a news release.

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