Fitch: Perusahaan notes BBB-

Fitch Ratings said it assigned PT Perusahaan Listrik Negara's upcoming issue of 30-year U.S. dollar bonds a BBB-(EXP) rating. The bonds will be issued under its $2 billion global medium-term notes program.

The notes are rated at the same level as the company as they will constitute direct, unconditional, unsubordinated and unsecured obligations of the company.

The net proceeds from the bond issue will be used for the company's capex and general corporate purposes. As per Fitch's parent-subsidiary linkage methodology, the company's ratings are equaliszed with those of its parent, the Indonesian sovereign, based on the strong ties between the two.

© 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.