Moody's to rate P.T. Inco Ba2

Moody's Investors Service said it will assign a prospective Ba2 senior unsecured foreign currency rating to P.T. International Nickel Indonesia Tbk. The outlook is stable.

Moody's said the Ba2 senior unsecured foreign currency rating reflects P.T. Inco's solid track record of profitable operations, its long term "must-take" contracts with its principal shareholders covering 100% of its production, its solid capitalization and its stable ownership by Inco (61%) and Sumitomo Metal Mining (20%).

The rating also recognizes P.T. Inco's strong debt protection measurements, which reflect very strong nickel prices and the company's capitalization.

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