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S&P puts Matahari Putra on watch
Standard & Poor's said it placed the B+ corporate credit rating and axBB Asean scale rating on PT Matahari Putra Prima Tbk. on CreditWatch with negative implications and on $200 million 10¾% senior notes due Aug. 7, 2012 issued by Matahari's wholly owned special-purpose subsidiary Matahari International BV on CreditWatch with negative implications.
The watch reflects the likelihood that Matahari's credit profile may weaken if this transaction takes place, which still depends on shareholders and regulatory approvals, according to the agency.
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