S&P rates DIC Asset notes BB+

S&P said it assigned BB+ long-term issue and 3 recovery ratings to DIC Asset AG’s planned €300 million of five-year senior unsecured green bonds. The recovery rating on the debt is 3, reflecting an expectation of about 50% recovery prospects in default.

DIC will use the proceeds from the bond issuance to finance or refinance green projects.

The outlook is stable.

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