Fitch to rate Home Capital notes BBB

Fitch Ratings said it expects to rate Home Capital Group, Inc.'s upcoming issue of up to C$150 million of senior notes due 2016 at BBB.

The company intends to downstream C$100 million to its wholly owned subsidiary Home Trust Co. to meet regulatory requirements for future growth, the agency said. The remainder of the proceeds is expected to be used for general corporate purposes, including possibly as additional capital for Home Trust.

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