S&P rates Kyndryl notes BBB-

S&P said it assigned a BBB- issue-level rating to Kyndryl Holdings Inc.'s planned senior unsecured notes due 2034.

All Kyndryl’s other ratings, including the BBB- issuer credit rating and stable outlook, are unchanged, the agency said.

The company is expected to use the proceeds and cash on hand to repay amounts outstanding under its term loan due 2024.

The outlook is stable.

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