...March 2, 2021 CENTENNIAL (S&P Global Ratings) March 2, 2021--S&P Global Ratings said today it assigned its '###+' issue-level rating to Sagen MI Canada Inc.'s (###+/Negative/--) 3.261% C$300 million senior unsecured debentures due 2031. The company intends to use the net proceeds from this offering for general corporate purposes. The debentures will be unsecured and unsubordinated obligations and will rank equally in right of payment with all existing and future unsecured and unsubordinated obligations. In addition, the debentures are structurally subordinated to all existing and future liabilities of Sagen's operating subsidiaries. The debentures are subject to mandatory redemption if the acquisition by Brookfield Business Partners L.P., together with certain of its affiliates, and institutional partners, does not close or is terminated. As such, the acquisition by Brookfield is expected to close in the first half of 2021. With the new issuance, Sagen's pro forma financial leverage as...
