...November 8, 2023 - Vsr Energi ASA, plans to issue new junior subordinated securities. - The company intends to use the proceeds for general corporate purposes. - We assess the proposed junior securities as having intermediate equity content. - We assigned our '##+' issue rating to the proposed junior securities to reflect their subordination and optional deferability. STOCKHOLM (S&P Global Ratings) Nov. 8, 2023--S&P Global Ratings today assigned its '##+' issue rating to the junior subordinated hybrid securities to be issued by Norwegian oil and gas company Var Energi ASA (Vsr; ###/Stable/--). The rating reflects our notching for subordination and optional interest deferability. We assess the securities as having intermediate equity content until the first reset date. We cap at 15% the proportion of capital comprising hybrids classified as having equity content, under our criteria. Consequently, when we calculate our adjusted credit ratios, we will treat one-half of Vsr's hybrid capacity...
