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DBRS rates Southern Pacific Resource notes B
DBRS said it has finalized its provisional rating of B (low) on Southern Pacific Resource Corp.'s C$260 million of 8¾% senior secured second-lien notes due Jan. 25, 2018.
The agency also finalized the provisional issuer rating of B (low).
Both have stable trends.
Proceeds from the sale of the above-noted securities will be used to pay down indebtedness under Southern Pacific's existing secured second-lien term loan.
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