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Fitch gives El Cortes Ingles notes BB+
Fitch Ratings said it assigned El Corte Ingles SA’s planned €400 million of notes an expected senior unsecured rating of BB+.
“The notes are rated at the same level as ECI’s long-term issuer default rating (IDR) and current senior unsecured debt as they represent direct, unconditional and unsecured debt of ECI,” Fitch said in a press release.
El Corte Ingles intends to use the proceeds for general corporate purposes, including the repayment of debt.
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