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S&P rates McLaren tap B
S&P said it assigned the B issue rating to McLaren Group Ltd.'s private placement $100 million tap of its 5¾% senior secured notes due 2022. The company issued the original $250 million of notes in April 2017.
The private placement is being issued as a separate tranche, and McLaren has also taken out a short-term revolving credit facility provided by its existing banking group, which will mature on Dec. 31.
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