Fitch: MF Global notes at BBB

Fitch Ratings said it assigned MF Global Holdings Ltd.'s $250 million of 1.875% convertible senior notes due Feb. 1, 2016 a BBB rating.

Proceeds will be used to reduce outstandings under a $1.2 billion revolver, fund hedge transactions related to the convertible notes and fund general corporate activity.

Upon conversion of the notes, MF can elect to pay cash or a combination of cash and common stock, Fitch added.

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