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Fitch: Huntington notes at BBB
Fitch Ratings said it assigned a BBB rating to the $300 million of subordinated debt issued on Dec. 17 by Huntington Bancshares, Inc.
The outlook is stable.
The company will use the $300 million of proceeds to redeem outstanding preferred stock issued under to the U.S. Treasury Department under the Capital Purchase Program, the agency added.
The notes mature on Dec. 15, 2020 and have a 7% coupon, Fitch said.
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