Fitch gives Greenwood bonds BBB+(idn)

Fitch Ratings Indonesia said it has published PT Greenwood Sejahtera Tbk's national long-term rating of BBB+(idn) with a stable outlook.

At the same time, the agency said it has also assigned a BBB+(idn) rating to the company's proposed 1.5 trillion rupiah bond program and 500 billion rupiah of bonds that will be issued under the program.

The agency stated that the national ratings denote a moderate default risk relative to other issuers or obligations in the same country. However, changes in circumstances or economic conditions are more likely to affect the capacity for timely repayment than is the case for financial commitments denoted by a higher-rated category.

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