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Moody's: Lippo Karawaci notes B1
Moody's Investors Service said it affirmed the B1 corporate family rating and senior unsecured ratings of PT Lippo Karawaci Tbk.
Moody's also assigned a provisional B1 rating to the proposed dollar-denominated senior unsecured notes issued by Theta Capital Pte Ltd. - and guaranteed by Lippo and some of its subsidiaries - in exchange for the existing senior unsecured notes issued by Sigma Capital Pte Ltd.
The outlook remains positive.
"Lippo will further extend its debt maturity profile, bolster its strong liquidity position and strengthen its ability to pursue its aggressive expansion plan, if the planned bond issuances are successful," Moody's analyst Jacintha Poh said in a news release.
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