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Moody's rates EMP notes B2
Moody's Investors Service said it assigned a provisional B2 corporate family rating to PT Energi Mega Persada Tbk.
The outlook is stable.
Moody's said it also assigned a provisional B2 rating with a stable outlook to the proposed U.S. dollar notes to be issued by EMP International Holdings Pte. Ltd. The notes are unconditionally guaranteed by Energi Mega and some of its subsidiaries.
"The (P)B2 rating is supported by EMP's increasing proportion of relatively stable gas revenues, underpinned by medium- to long-term take-or-pay contracts, and its plan to further ramp up gas production," said Simon Wong, a Moody's vice president and senior analyst, in a news release.
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