S&P: Lippo Karawaci notes BB-

Standard & Poor's said it assigned its BB- rating and axBB+ ASEAN regional scale rating to the proposed issue of up to $130 million senior notes guaranteed by PT Lippo Karawaci Tbk. and some of its subsidiaries. Theta Capital Pte. Ltd., a special purpose vehicle that Lippo Karawaci owns, will issue the notes.

The agency said it does not expect this transaction to result in significant debt increase, but it would further ease Lippo Karawaci's debt maturity profile.

For this reason, the corporate credit rating of Lippo Karawaci is not affected.

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