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Moody's rates M&G notes B2
Moody's Investors Service said it assigned a provisional B2 / LGD 4 (53) ratings to the proposed $500 million senior secured guaranteed notes to be issued by M&G Finance Corp., a subsidiary of Mossi & Ghisolfi International.
The outlook was changed to negative.
Moody's said the proceeds of the proposed notes will substantially fund the company's $750 million capital investment program associated with the construction of a new PET plant, and a co-sited PTA (Purified Terephthalic Acid) plant in Corpus Christi, Texas, expected to come on stream in 2014.
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