S&P rates Atos notes BBB+

S&P said it assigned its BBB+ issue ratings to the senior unsecured notes issued by Atos SE.

The issuance is expected to be split in three tranches, with maturities of three to four, six to seven, and 10 years.

S&P said it understands that Atos will use the issue proceeds to refinance the $1.9 billion credit facility it raised in connection with its acquisition of Syntel. Atos completed the acquisition on Oct. 9.

“We rate debt issued by Atos at BBB+, the same as the issuer credit rating. This is because no significant elements of subordination risk are present in the capital structure,” the agency said in a news release.

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