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Moody's rates SES hybrid bonds Ba1
Moody's Investors Service said it assigned a Ba1 guaranteed long-term rating to the proposed perpetual deeply subordinated fixed rate resettable securities issued by SES SA.
The outlook is negative.
Proceeds from this issuance will be used to refinance the €750 million hybrid bonds callable in January 2022 and issued in June 2016.
The Ba1 rating assigned to the hybrid bond is two notches below SES' issuer rating of Baa2.
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