S&P assigns B+ to Eutelsat notes

S&P said it rated Eutelsat SA’s planned €600 million of senior unsecured notes B+ with a 2 recovery rating (estimated recovery: 80%).

The rating is the same as those on the issuer’s outstanding senior unsecured notes.

Eutelsat plans to use the balance sheet cash and the notes to fully refinance the €800 million senior secured bonds maturing in October 2025.

The outlook is stable.

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