Fitch: Perusahaan Penerbit sukuk BB+

Fitch Ratings said it assigned an expected BB+ rating to Perusahaan Penerbit SBSN Indonesia II's upcoming global certificates (sukuk).

The rating is in line with the Republic of Indonesia's long-term foreign-currency issuer default rating of BB+ with a positive outlook.

The rating reflects a view that cash flows guaranteeing payment on the sukuk are considered direct, unconditional, unsecured and general obligations of the Republic of Indonesia, ranking equally with Indonesia's unsecured and unsubordinated marketable external debt, Fitch said.

The sukuk follow an ijara (sale and leaseback) structure functionally identical to the Republic's PPSI-I 2014 sukuk issued in April 2009, the agency said.

© 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.