Fitch assigns AA-(idn) to WOMF bonds

Fitch Ratings Indonesia said it assigned AA-(idn) national long-term ratings to PT Wahana Ottomitra Multiartha Tbk.'s (WOMF; AA-(idn)/stable) proposed senior unsecured bonds, which will be issued under the fifth tranche of WOMF's second bond program.

The bonds have maturities of 370 days and three years.

The bond issuance will be up to Rp 800 billion in size and the proceeds will be used to support the company's working capital requirements.

The senior unsecured bonds are rated at the same level as WOMF's national long-term rating in accordance with Fitch's criteria as they constitute the direct, unsecured and unsubordinated obligations of the company and rank equally with all its other unsecured and unsubordinated obligations.

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