Fitch rates Pertamina notes BBB

Fitch Ratings said it assigned a BBB rating PT Pertamina (Persero) ’s proposed dollar-denominated notes to be issued under its $20 billion global medium-term note program.

The notes are rated at the same level as Pertamina’s senior unsecured debt as they will constitute its direct, unconditional, unsubordinated and unsecured obligations, Fitch said.

Pertamina will use the proceeds for capital expenditures and general corporate purposes.

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