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Moody’s rates NFP notes Caa2
Moody’s Investors Service said it assigned a Caa2 rating to $1.25 billion of eight-year senior unsecured notes being issued by B3-rated NFP Corp.
The company will use proceeds to redeem $900 million of senior unsecured notes due July 2025, redeem $305 million of senior secured notes due January 2024, pay related fees and expenses and for general corporate purposes.
The outlook is unchanged at stable.
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