S&P affirms Paiton Energy bonds

Standard & Poor's said it affirmed its B- rating on the $180 million senior secured bonds issued by Paiton Energy Funding BV and guaranteed by PT Paiton Energy.

At the same time, the bond rating was removed from CreditWatch with negative implications, where it was placed on June 17. The outlook is stable.

S&P said the rating action follows S&P's assessment that Paiton's decision to construct a new generating facility in Indonesia should not materially affect the company's credit profile.

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