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S&P rates La Mondiale notes BBB
S&P said it assigned its BBB issue rating to La Mondiale’s fixed-rate subordinated tier 2 notes.
The agency rates the notes two notches below La Mondiale’s A- rating citing a notch for the subordination and another for the risk of mandatory and optional coupon deferral under certain circumstances, S&P said.
Proceeds will be used for general corporate purposes.
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