Fitch: Indosat bonds AAA(idn)

Fitch Ratings said it assigned national ratings of AAA(idn) on PT Indosat Tbk.'s Rp 9 trillion bond program and Rp 1 trillion sukuk ijarah program.

The agency also said it assigned national ratings of AAA(idn) to the up to Rp 2.7 trillion senior unsecured bonds and up to Rp 300 billion sukuk ijarah issued under these programs.

The proceeds will be used for debt refinancing, purchase of a base station sub-system and to pay the license fee for radio frequency spectrum, Fitch said.

The ratings on the notes are the same as Indosat's national long-term rating of AAA(idn) as the risk of default of these senior unsecured obligations is aligned with that of Indosat, the agency said.

The sukuk will represent the company's unsecured obligations and will rank pari passu with all its other unsecured obligations, Fitch said.

© 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.