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S&P assigns SEAT notes B+
Standard & Poor's said it assigned its B+ debt rating to the proposed €650 million senior secured notes to be issued by SEAT PagineGialle SpA (B/negative).
At the same time, the agency said it assigned a recovery rating of 2 to this debt.
The agency said it anticipates that the new notes will share the same guarantees and security package granted to the existing secured credit facilities at SEAT level and will rank pari passu with those secured facilities.
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