Moody's rates Perusahaan Listrik Negara bond Ba3

Moody's Investors Service said it assigned a Ba3 senior unsecured rating to PT Perusahaan Listrik Negara's proposed bond issuance and affirmed its Ba3 corporate family rating.

The outlook is positive, which is in line with the sovereign's positive outlook.

The proceeds will be used to partially fund the capital expenditure requirements and for general corporate purposes.

Moody's said it considers the company closely linked to the government's credit quality in light of its 100% ownership by the Ministry of State-Owned Enterprises, strategic importance as Indonesia's only vertically-integrated electricity utility and the government subsidies to ensure its financial viability and operational soundness.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.