Fitch gives Lippo Malls notes BB-

Fitch Ratings said it gave Lippo Malls Indonesia Retail Trust’s proposed notes a BB- rating. The proposed notes will be issued by LMIRT’s wholly owned subsidiary, LMIRT Capital Pte. Ltd. and will be guaranteed by Perpetual (Asia) Ltd. in its capacity as the trustee of LMIRT.

The notes are rated at the same level as LMIRT’s issuer default rating (IDR), as they will constitute its direct, unsecured and unsubordinated obligations, Fitch said.

LMIRT plans to use the proceeds to refinance debt and to boost its liquidity buffer.

The outlook is negative.

© 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.