Moody's rates Adaro Indonesia issue Ba1

Moody's Investors Service said it assigned a provisional Ba1 senior unsecured bond rating to the proposed issuance by PT Adaro Indonesia under the guarantee of parent PT Adaro Energy Tbk. and affirmed its Ba1 local-currency corporate family rating.

The outlook is stable.

Adaro's operating and financial profile has shown consistent improvement in the last few years, Moody's said. Such strengths have been manifest in Adaro's substantially improving credit metrics and liquidity profile, the agency said.

The rating reflects its status as one of the world's lowest-cost producers and exporters of coal, quality of its customer base, well-established operations and strong financial profile, Moody's said.

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