Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lazard Group LLC > News item |
Fitch to rate Lazard notes BBB+
Fitch Ratings said it expects to rate Lazard Group LLC's upcoming $500 million senior unsecured note issuance BBB+.
The notes are expected to mature in September 2028.
Proceeds from the issuance are expected to be used for general corporate purposes, which may include the early tender of $250 million of notes due November 2020 and the funding of share repurchases.
“The notes are expected to rank pari passu with Lazard's existing senior unsecured debt, and therefore the expected rating is equalized with Lazard's outstanding senior unsecured debt and its issuer default rating (IDR),” the agency said in a news release.
“The expected debt issuance is not expected to have a meaningful impact on the firm's leverage profile.”
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.