Fitch gives Tower Bersama notes AA+(idn)

Fitch Ratings said it gave an AA+(idn) rating to PT Tower Bersama Infrastructure Tbk.’s planned offering of up to Rp 1.2 trillion of senior unsecured notes. The notes will be sold under Tower Bersama’s Rp 15 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.

Tower Bersama will use the proceeds to refinance debt.

The outlook is stable.

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