Moody's assigns Ba2 to Pakuwon bond

Moody's Investors Service said it assigned a senior unsecured bond rating of Ba2 to the planned senior unsecured bond to be issued by PT Pakuwon Jati Tbk. The bond is guaranteed by most of Pakuwon Jati's subsidiaries.

"The senior unsecured bond is not exposed to legal or structural subordination risk; hence the rating is aligned with Pakuwon Jati's Ba2 corporate family rating," said Jacintha Poh, a Moody's vice president, senior credit officer and lead analyst for Pakuwon Jati, in a press release.

Pakuwon Jati will use the proceeds to redeem in full the $250 million 2024 bond issued by Pakuwon Prima Pte. Ltd. and for general corporate purposes.

The outlook is stable.

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