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Fitch rates New Fortress notes BB-
Fitch Ratings said it assigned BB-/RR4 ratings to New Fortress Energy Inc.'s senior secured notes. The secured notes are secured by equity pledges in various subsidiaries and first-priority security interests in substantially all other material assets of the issuer and its guarantor subsidiaries.
The ratings are the same as those on the issuer’s outstanding senior secured notes.
The proceeds will be used to repurchase a portion of the 2025 notes and repay a portion of the outstanding revolver borrowings.
The outlook is stable.
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