Fitch assigns Pupuk bond AAA (idn)

Fitch Ratings said it gave an AAA(idn) national long-term rating to Pupuk Indonesia’s second bond offering of up to Rp 2.5 trillion under its Rp 8 trillion program.

“The issuance is rated at the same level as PTPI’s national long-term rating because the notes represent senior unsecured obligations of the issuer,” Fitch said in a press release.

PTPI plans to use the proceeds to partially repay bank loans at its subsidiary level.

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