Fitch rates Tower Bersama bond AA+

Fitch Ratings said it assigned PT Tower Bersama Infrastructure Tbk.'s bond issuance of up to Rp 2.5 trillion an AA+(idn) national long-term rating. The bonds will be the sixth phase of issuance from the company'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.

TBI will use the proceeds to refinance its subsidiary’s debt.

The outlook is stable.

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