Fitch rates Federal rupiah bonds AAA

Fitch Ratings said it assigned an AAA(idn) rating to PT Federal International Finance's fifth tranche of bonds under its fifth rupiah bond program. The issuance consists of the following Rp 1.035 billion of series A 6% bonds due March 2024 and Rp 1.96 billion of series B 6.8% bonds due February 2026

“The unsecured bonds are rated at the same level as FIF's national long-term rating in accordance with Fitch's criteria, as they represent FIF's direct and unsecured obligations and rank pari passu with its other obligations in the same debt class,” the agency said in a press release.

The outlook is stable.

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