Fitch rates Berlian Laju Tanker notes BB-

Fitch Ratings said it assigned long-term foreign-currency and local-currency issuer default ratings of BB- to PT Berlian Laju Tanker Tbk, along with an expected rating of BB- to the proposed $200 million senior unsecured notes due 2014 to be issued by BLT Finance BV and guaranteed by Berlian Laju Tanker. The final ratings are contingent upon receipt of documents.

The outlook is stable.

The ratings are supported by the company's leading position as the largest shipping company in Indonesia, established track record and its ability to remain profitable through industry downturns, Fitch said.

However, its ratings are constrained by the cyclical, competitive and fragmented nature of its key business, liquid bulk cargo shipping, the agency added.

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