Moody's: Theta Capital notes B1

Moody's Investors Service said it assigned a definitive B1 senior unsecured rating to the $150 million senior unsecured notes issued by Theta Capital Pte Ltd. and guaranteed by PT Lippo Karawaci and some of its subsidiaries.

The outlook is positive.

Moody's said the net proceeds from the issuance will be used for the development of new retail malls, hospitals and large scale integrated development. Proceeds will also go toward working capital requirements and general corporate purposes.

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