Fitch rates Tower Bersama bonds AA+(idn)

Fitch Ratings Indonesia said it assigned PT Tower Bersama Infrastructure Tbk.'s bond issuance of Rp 2.915 trillion a national long-term rating of AA+(idn). The bonds will be the third phase issuance from its Rp 7 trillion bond program.

“The issuance is rated at the same level as TBI's national long-term rating because the notes represent its senior unsecured obligations,” Fitch said in a press release.

The company will use the proceeds to refinance part of its subsidiaries' debt.

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