Fitch assigns Ivomas Tunggal AA(idn)

Fitch Ratings said it assigned PT Ivomas Tunggal a national long-term rating of AA(idn) with a stable outlook.

In line with Fitch's parent and subsidiary rating methodology, the ratings reflect strong operating and strategic linkages between Ivomas Tunggal and its 100% parent Golden Agri Resources Ltd.

The strong operating linkages are enhanced by the fact that more than 90% of Ivomas Tunggal's sales are channelled through Golden Agri group companies, the agency said.

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