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Moody’s assigns Smith & Nephew notes Baa2
Moody’s Investors Service said it gave a first time Baa2 senior unsecured rating to Smith & Nephew plc’s planned $1 billion of notes.
The notes are senior unsecured and unguaranteed obligations of Smith & Nephew plc and they rank pari passu with the group’s debt facilities. Hence they are rated in line with Smith & Nephew’s Baa2 long-term issuer rating, assigned on Monday, Moody’s said.
Proceeds will be used for general corporate purposes, including the funding of the group’s acquisition strategy.
The outlook is stable.
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