Fitch rates Surya Artha Nusantara notes AA

Fitch Ratings Indonesia said it published an AA(idn) rating on the second tranche of bonds issued under PT Surya Artha Nusantara Finance's fourth bond program.

The tranche consists of Rp 350 billion of 6% notes with a tenor of 370 days, due March 2024, Rp 900 billion of 7% notes with a tenor of three years, due March 2026, and Rp 250 billion of 7¼% notes with a tenor of five years, due March 2028

“SANF's issuances under the program are rated at the same level as its national long-term rating, in accordance with Fitch's criteria, as the bonds represent SANF's direct obligations and rank equally with all its other obligations,” the agency said in a press release.

The outlook is stable.

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