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S&P corrects KION error
Standard & Poor's said it corrected an internal administrative error by withdrawing its recovery rating of 4 on the €500 million senior secured notes issued by KION Finance SA.
The recovery rating was assigned at the time of the notes issuance in April 2011 due to an administrative error, the agency said. S&P's issue rating of B on the senior secured notes is unchanged.
S&P said it also corrected related administrative errors by assigning its issue rating of B and recovery rating of 4 to the €500 million back-to-back credit facility borrowed by Linde Material Handling.
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