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S&P rates Inversiones CMPC notes BBB-
S&P said it assigned a BBB- rating to Inversiones CMPC SA's proposed $500 million 10-year senior unsecured notes.
Inversiones CMPC is a wholly owned financing vehicle subsidiary of Empresas CMPC SA.
The rating on the notes is the same as the corporate credit rating on Inversiones CMPC based on its unconditional and irrevocable guarantee, S&P said.
The agency said the proceeds will be used to finance capital expenditures.
The ratings reflect the company's competitive cost structure due to its access to highly productive forests in Chile and Brazil, S&P said.
The ratings also consider the company's geographic diversification, which mitigates risks from economic cycles, the agency said.
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