Moody’s rates Pertamina notes Baa2

Moody’s Investors Service assigned a Baa2 rating to the proposed dollar-denominated senior unsecured notes from PT Pertamina (Persero).

The notes will be sold under Pertamina’s $10 billion global medium-term note program.

“The rating reflects Pertamina's strategically important position as Indonesia's national integrated oil and gas company, contributing significant upstream production, and accounting for substantially all of the country's refineries, fuel marketing stations and gas pipelines,” said Vikas Halan, a Moody's senior vice president, in a press release.

The outlook is stable.

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