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Moody’s assigns Magna notes A3
Moody’s Investors Service said it assigned an A3 rating to Magna International Inc.’s new $500 million of senior unsecured notes due 2030.
Proceeds will be used for general corporate purposes, which may include capital expenditures and acquisitions.
Magna’s ratings are unchanged, including the A3 senior unsecured note rating, the agency said.
The outlook is negative.
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