Moody's rates Berau notes B1

Moody's Investors Service said it assigned a definitive B1 rating to the $500 million 7¼% five-year senior notes issued by PT Berau Coal Energy Tbk.

Moody's said the definitive rating on this debt obligation confirms the provisional B1 bond rating assigned on Feb. 27, based on the fact that the amount raised from the bond issue and the covenants stated in the March 6 Offering Memorandum Circular are consistent with Moody's expectations.

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