S&P rates ARD Finance notes B-

S&P said it assigned a B- rating to the proposed offering of $2.215 billion toggle notes due 2027 by ARD Finance SA.

The proceeds will refinance around $2.09 billion in subordinated notes issued by ARD and ARD Securities Finance.

S&P also affirmed the B+ ratings on Ardagh Group and its subsidiaries, which includes ARD.

The outlook is stable.

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