S&P rates OI European Group notes BB-

S&P said it assigned a BB- rating to OI European Group BV's proposed €300 million senior unsecured notes due 2025.

The company's parent, Owens-Illinois Group Inc., will guarantee the notes.

Proceeds are expected to be used to redeem the remaining €250 million outstanding on its 2020 notes as well as other bank debt.

All other ratings on Owens-Illinois Inc. and its subsidiaries remain unchanged, S&P said.

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