S&P rates 3i notes BBB

S&P said it assigned a BBB rating to 3i Group plc’s proposed sterling-denominated benchmark-sized new senior unsecured notes offering.

“In our view, the issuance of the new bond is opportunistic, given the group already enjoys adequate liquidity resources to face the current economic downturn. Although this issuance will moderately weigh on financial leverage, it will also reinforce 3i’s liquidity position, which we view positively in the current uncertain environment,” S&P said in a press release.

The agency said it also affirmed the BBB long-term issuer credit rating on 3i, and maintained a positive outlook on the company.

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