Moody's rates Indo Energy notes B1

Moody's Investors Service said it assigned a definitive B1 senior secured rating to the $500 million 6 3/8% senior secured notes due in 2023 issued by Indo Energy Finance II BV, a wholly owned subsidiary of PT Indika Energy Tbk.

Indika and its other wholly owned subsidiaries, PT Indika Inti Corpindo and the Tripatra Entities, guarantee the notes.

The outlook is stable.

Moody's said the definitive rating confirms the provisional B1 bond rating that Moody's assigned on Jan. 9, given that the amount raised from the bond issue and the covenants stated in the Offering Memorandum Circular of Jan. 16 are consistent with Moody's expectations.

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