Fitch rates Sappi bond A+(zaf)

Fitch Ratings said it assigned Sappi Manufacturing (Pty) Ltd.'s ZAR 325 million senior unsecured bond issue an A+(zaf) rating.

The three-year bond has a coupon of 12.13%, payable semiannually.

The structure for the new bond is similar to that of the two bonds issued by Sappi Man, which are also rated A+(zaf).

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