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S&P: Global Bank notes BBB-
Standard & Poor’s said it assigned a BBB- rating to Global Bank Corp. y Subsidiarias’ proposed senior unsecured notes for up to CHF 75 million due Nov. 26, 2018.
The notes would bear a fixed rate, S&P said.
The notes are rated the same as the bank’s long-term issuer credit rating, reflecting its pari passu ranking in right of payment with all of the bank’s senior unsecured debt obligations, the agency said.
The bank’s average funding and adequate liquidity is unchanged, S&P said.
The proceeds will be used for general banking purposes.
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