Fitch rates Jababeka notes B

Fitch Ratings said it assigned PT Kawasan Industri Jababeka Tbk a long-term foreign-currency issuer default rating of B.

The outlook is stable.

Fitch also assigned the company's proposed five-year senior notes an expected B rating and a recovery rating of RR4.

The ratings are constrained by Jababeka's small operating size and limited diversification, the agency said.

These weaknesses are, however, mitigated by the high quality of Jababeka's development, The agency noted.

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