Mumbai, June 14 -- S&P Global Ratings on Monday assigned 'A-' long-term issue rating to the proposed US dollar-denominated senior unsecured notes issued by Wipro IT Services LLC.

Wipro IT Services is a US-based wholly owned step-down subsidiary of Wipro Ltd, which guarantees up to 105% of the principal payment on the notes. The company will use the proceeds to repay its debt as well as for general corporate purposes.

According to the rating agency, Wipro IT Services is a strategic and integral part of India-based Wipro Ltd, and has been used as a vehicle to pursue acquisitions, including The Capital Markets Co. (UK) Ltd., its largest to date and are in line with Wipro Ltd.'s growth strategy and will help to increase its presence in digi...