Moody’s rates Lippo Karawaci notes Ba3

Moody's Investors Service said it assigned a senior unsecured bond rating of Ba3 to the proposed 2026 senior unsecured notes to be issued by Theta Capital Pte. Ltd., a wholly owned subsidiary of Lippo Karawaci Tbk.

The bond is guaranteed by Lippo Karawaci and some of its subsidiaries, Moody’s said.

The proceeds will be used toward the redemption of $403 million senior unsecured notes due 2020 issued by Theta Capital, the agency said.

The successful refinancing exercise will extend Lippo Karawaci's weighted average debt maturity profile with the company's next major debt maturity of $410 million due in 2022, Moody’s said.

Lippo Karawaci also has a Ba3 corporate family and negative outlook.

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