Fitch assigns BB- ratings to MPM notes

Fitch Ratings said it assigned Indonesia's PT Mitra Pinasthika Mustika Tbk (MPM) a long-term foreign currency issuer default rating of BB- with a stable outlook.

At the same time, the agency assigned a senior unsecured rating of BB- and an expected BB-(EXP) rating to the proposed dollar-denominated notes due in 2019.

The notes will be issued by its wholly owned subsidiary MPM Global Pte. Ltd. and guaranteed by MPM and its subsidiaries, excluding the financing and insurance subsidiaries.

The notes are rated at the same level as MPM's senior unsecured debt rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the company.

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