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S&P assigns BBB+ to SQM notes
S&P said it assigned its BBB+ issue-level rating on Sociedad Quimica y Minera de Chile SA's (SQM; BBB+/stable/--) senior green notes for approximately $500 million.
SQM intends to allocate an amount equal to the net proceeds to finance and refinance eligible green projects (as defined by Green Bond Principles) including, for instance, its lithium carbonate and hydroxide expansions in Chile. Pending allocation, the company may use the proceeds to strengthen cash balances, and for debt refinancing and general purposes.
The rating on the notes is the same as the issuer credit rating on SQM.
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