S&P rates SoftBank notes BB+

S&P said it assigned its BB+ issue rating to SoftBank Group Corp.'s proposed senior dollar-denominated notes and senior euro notes.

SoftBank plans to use these notes mainly to exchange multiple senior dollar-denominated notes and senior euro notes it issued in 2015.

The agency said the issue rating on the proposed notes is equal to the long-term corporate credit rating on SoftBank because the ratio of the issuer's total secured debt plus its subsidiaries' debt to the issuer's total debt stands below 50%, the threshold for S&P to consider notching down the issue rating.

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