S&P assigns BBB+ to LG Energy notes

S&P said it assigned a BBB+ rating to LG Energy Solution Ltd.'s (LG EnSol) planned dollar-denominated senior unsecured green bonds.

“We equalize the rating on the notes with the long-term issuer credit rating on LG EnSol (BBB+/stable/--). Despite the company's high-priority debt ratio, its well-diversified geographical exposure, with EBITDA from China, the U.S., and Europe, could mitigate subordination risks,” S&P said in a press release.

LG EnSol plans to use the proceeds to finance new projects related to low-carbon transportation and energy efficiency under its green financing framework.

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