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Fitch rates Smurfit Kappa notes BBB-
Fitch Ratings said it assigned Smurfit Kappa Treasury Unlimited Co.'s (SKT), a subsidiary of Smurfit Kappa Group plc (SKG), planned senior unsecured green bonds, a BBB- rating and placed it on rating watch positive.
The rating is aligned with that of SKT's outstanding bonds and SKG's issuer rating, Fitch said.
The proceeds will be used to refinance SKG’s bridge loan, to cover the cash consideration of its merger with WestRock Co., merger-related fees, and for general corporate purposes, including debt repayment.
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