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DBRS rates Espirito Santo Financial bonds BBB
DBRS said it assigned a provisional rating of BBB with a negative trend to the senior convertible bonds due 2025 to be issued by Espirito Santo Financial Group, SA.
The convertible bonds will rank equally with the group's other senior, unsecured indebtedness and are direct, unconditional, unsubordinated and unsecured obligations of the company, DBRS said.
As such, the convertible bonds rating is consistent with the company's BBB senior long-term debt rating, the agency said.
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