DBRS applies A (low) to Saputo notes

DBRS said it assigned a rating of A (low) to Saputo Inc.’s C$300 million series 4 medium-term note offering announced on June 6.

The trend is stable.

The senior unsecured debt issuance is made up of a single tranche of C$300 million series 4 medium-term notes due in 2022.

The notes will be unsecured obligations ranking pari passu with Saputo’s existing and future senior debt. Saputo is expected to use the proceeds to repay a portion of its debt under the 2013 credit facility.

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