Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lippo Karawaci Tbk > News item |
Moody's rates Lippo Karawaci notes Ba3
Moody's Investors Service said it affirmed the Ba3 corporate family rating of PT Lippo Karawaci Tbk. and affirmed the Ba3 senior unsecured rating of bonds issued by Theta Capital Pte Ltd., a wholly owned subsidiary of Lippo Karawaci.
The agency also assigned a provisional Ba3 rating to the proposed dollar-denominated senior unsecured notes to be issued by Theta Capital and guaranteed by Lippo Karawaci and some of its subsidiaries.
The outlook is stable. The provisional status of the senior unsecured bond rating will be removed upon completion of the bond issuance with all satisfactory terms and conditions met.
Lippo Karawaci announced its proposed bond issuance on April 2, intending to raise up to $150 million, largely to fund the development of new retail malls and hospitals and for working capital requirements and general corporate purposes.
"If the planned bond issuance is successful, Lippo Karawaci will further extend its debt maturity profile to approximately seven years from 6.5 years now, and strengthen its ability to pursue its aggressive expansion plan," Moody's analyst Jacintha Poh said in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.