Fitch: Lippo Karawaci notes B+

Fitch Ratings said it assigned PT Lippo Karawaci Tbk's $125 million senior notes due April 30, 2015 a final rating of B+ and a final recovery rating of RR4.

The notes are issued by wholly-owned subsidiary Sigma Capital Pte. Ltd. and guaranteed by Lippo Karawaci.

This action follows the completion of the notes issue and receipt of documents conforming to information previously received, Fitch said.

The final rating is the same as the expected rating assigned in February and the proceeds are to be used for debt refinancing, the agency said.

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