S&P gives Coltel notes BB+

S&P said it assigned its BB+ issue-level rating to Colombia Telecomunicaciones SA ESP’s (Coltel) proposed senior unsecured notes of up to $500 million, maturing between seven and 10 years.

Coltel plans to use proceeds for debt refinancing on a portion of its $750 million of senior unsecured notes due 2022, increasing its debt weighted average maturity profile.

The outlook is negative.

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