| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Energi Mega Persada Tbk. > News item |
S&P downgrades Energi Mega to B-
Standard & Poor's said lowered its long-term corporate credit rating on PT Energi Mega Persada Tbk. (EMP) to B- from B.
The outlook is negative.
At the same time, the agency lowered its long-term Asean regional scale rating to axB- from axB+.
"We lowered the rating because PT Energi Mega continues to face refinancing risks because of its sizable short-term debt at the holding company level," S&P credit analyst Yuehao Wu said in a news release.
"We anticipate that EMP's cash and internal accruals will be insufficient for the debt servicing and the company will rely on rolling over its short-term debt."
© 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.