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S&P assigns AA to Harvest notes
S&P said it assigned its AA issue-level rating to Harvest Operations Corp.'s proposed $285 million senior guaranteed notes maturing in 2022.
The notes will be fully, unconditionally and irrevocably guaranteed by Korea National Oil Corp. (AA/stable/--) and will rank equally to Harvest's existing notes guaranteed by Korea National Oil.
Harvest is expected to use the proceeds from the notes to pay its existing senior unsecured notes due in October.
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