S&P rates EFE notes A+

S&P said it assigned its A+ rating on Empresa de los Ferrocarriles del Estado's expected offering of up to $500 million of notes, the same level as the issuer credit rating.

“We expect this issuance to be the first in a series of international placements, and assume EFE will use the proceeds mostly to finance investments included in its 2020-2022 triennial plan, and to a lesser extent, for liability management and other corporate uses,” the agency said in a press release.

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