Fitch rates Adaro notes BBB-

Fitch Ratings said it assigned PT Adaro Indonesia Tbk. a long-term issuer default rating of BBB- with a stable outlook.

The agency also assigned the company’s proposed dollar notes an expected rating of BBB-.

The proposed notes will be guaranteed by PT Adaro Energy Tbk.

The agency said the BBB- rating reflects the company’s leading market position in the Indonesian seaborne coal market, and operational and financial resilience through the cycle due to its vertically integrated operations, the competitive cost position of its mine, and prudent financial policies.

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