Moody’s gives BUMA CFR, notes Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to Bukit Makmur Mandiri Utama (BUMA) and a Ba3 rating to its proposed senior secured notes.

The outlook is stable.

Proceeds will be used to repay the company's existing bank loans.

"BUMA's Ba3 CFR reflects its well-recognized franchise and established relationships with Indonesia's largest coal concession holders and the long-term contractual nature of its revenue base which provides cash flow visibility," Moody's analyst Rachel Chua said in a news release.

The rating also takes into account BUMA's moderate financial profile, supported by its resilient operating performance and proactive capital management through the industry downturn, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.