Fitch affirms Adaro Indonesia

Fitch Ratings said it affirmed PT Adaro Indonesia's long-term foreign- and local-currency issuer default ratings at BB+, along with the BB+ rating on its senior unsecured ratings of its $800 million senior notes due in 2019 issued by Adaro and guaranteed by PT Adaro Energy Tbk.

The outlook remains stable.

The affirmations reflect Adaro's large, low-cost operations with a strong track record of growth, supported by its longstanding relationship with leading customers and its robust financials, Fitch said.

The ratings remain constrained by the company's exposure to single-site operations, the agency said.

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