407 International Inc. has issued C$500 million in senior debt. We are assigning our 'A' rating to the debt. We are also affirming our 'A' rating on 407's existing senior debt, our 'A-' rating on the company's junior debt, and our 'BBB' rating on its subordinated debt. The stable outlook reflects our expectation that 407 will produce debt service coverage ratios in line with our base-case financial forecast. On May 20, 2016, S&P Global Ratings assigned its 'A' rating to 407 International Inc.'s C$500 million senior debt issue. At the same time, S&P Global Ratings affirmed its 'A' rating on 407's senior debt, its 'A-' rating on the company's junior debt, and its 'BBB' rating on the subordinated debt. The
