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Published on 9/15/2014 in the Prospect News Convertibles Daily.

S&P assigns BB+ to Telefonica convertibles

Standard & Poor’s said it assigned its BB+ long-term issue rating to the €1.5 billion three-year mandatory convertible notes issued by Telefonica Participaciones SAU, a fully owned finance subsidiary of Telefonica SA (BBB/stable/A-2), also the guarantor of the notes.


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