Fitch rates Perusahaan Listrik Negara notes BBB

Fitch Ratings said it assigned a rating of BBB to PT Perusahaan Listrik Negara's proposed senior unsecured dollar-denominated notes.

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

The company’s rating is equalized with Indonesia based on the expectations of a ‘very strong’ likelihood of support, in line with Fitch's government-related entities rating criteria, the agency said. Indonesia owns the company.

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