...June 11, 2020 CENTENNIAL (S&P Global Ratings) June 11, 2020--S&P Global Ratings today said it assigned its '###' rating to Teranet Holdings LP's C$550 million senior secured bonds series 2020-1 due 2025. Teranet plans to use a portion of the bond proceeds to repay C$400 million of an existing C$700 million tranche of debt maturing in December 2020, with the remainder used for general corporate purposes. The company plans to repay the remaining C$300 million maturing in December from proceeds of a C$300 million senior secured bond series 2020-2 due 2030 that will close in December. Market volumes rather than market prices drive Teranet's revenues. Although we expect a substantial drop in transaction volume for the remainder of 2020, we also expect recovery in subsequent quarters. Teranet books revenues on a delayed basis compared to provincial sales activity, with transaction closings coming up to two months after contracts are signed. Therefore, we expect Teranet to report the lowest level...
