...November 10, 2021 FRANKFURT (S&P Global Ratings) Nov. 10, 2021--S&P Global Ratings said today that it has assigned its '##-' issue rating to the senior unsecured notes due 2023 and 2027 issued by Deutsche Lufthansa AG (Lufthansa, ##-/Stable/B). Lufthansa issued the notes under its 10.0 billion debt issuance program. We expect the company will use the net proceeds for general corporate purposes, including the repayment of existing debt. We rate the notes at the same level as our long-term issuer credit rating on Lufthansa (for the latest issuer credit rating rationale, see "Deutsche Lufthansa AG Outlook Revised To Stable On Recovery In Air Traffic," published Nov. 8, 2021). The recovery rating on the notes is '3', indicating our expectation of meaningful recovery prospects (50%-70%; rounded estimate: 65%) in the event of a payment default. The issue rating and the recovery rating on the existing senior unsecured debt are unchanged....
