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S&P rates El Salvador notes B-
S&P said it assigned its B- issue ratings to El Salvador’s $1 billion 9¼% notes due in April 2030 and to interest-only notes. The notional amount and the maturity of the interest-only notes are tied to the $1 billion notes.
The interest-only notes' initial interest rate is 0.25%, with the possibility of a step-up to 4% after 18 months depending on the outcome of a macro test.
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