Fitch rates Pertamina Persero notes BBB-

Fitch Ratings said it affirmed PT Pertamina Persero's long-term foreign-currency issuer default rating at BBB-, along with its senior unsecured rating and existing senior unsecured notes at BBB-.

The outlook is stable.

Fitch also assigned a final rating of BBB- to the company's $1.25 billion senior unsecured notes due 2022 and $1.25 billion senior unsecured notes due in 2042.

The ratings are equalized with that of its parent, the Republic of Indonesia, reflecting its strong legal, operating and strategic linkages to the sovereign, the agency said.

Pertamina remains one of the most important state-linked entities in executing Indonesia's national energy policy, Fitch said.

It is the dominant refiner and retailer of petroleum products in Indonesia, the agency said.

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