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Prospect News home > News index > List of issuers M > Headlines for Mattamy Group Corp. > News item |
S&P rates Mattamy Group notes BB
S&P said it assigned its BB issue-level rating and a 3 recovery rating to Mattamy Group Corp.’s proposed $450 million senior unsecured notes due 2027. The 3 recovery rating indicates S&P’s estimate for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of payment default.
Mattamy is expected to use the proceeds to fully redeem its $425 million of outstanding 6 7/8% senior unsecured notes due December 2023.
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