S&P rates Burford notes BB-

S&P said it assigned a BB- debt rating to Burford Capital Global Finance LLC's proposed $350 million of senior unsecured notes due 2029. Burford Capital Global Finance LLC is a financing subsidiary of Burford Capital Ltd.

S&P said it expects the parent's leverage, measured by debt to adjusted total equity, will be about 0.7x after the transaction. However, it believes the company could use some of the proceeds to repay a portion of the senior unsecured notes due 2022 over the medium term.

The outlook is stable.

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