Fitch rates Japfa notes BB-

Fitch Ratings said it assigned PT Japfa Comfeed Indonesia Tbk. ’s planned dollar-denominated notes a BB- rating.

Japfa and certain subsidiaries will guarantee the notes. “The proposed notes are rated at the same level as Japfa’s issuer default rating (IDR), as they will constitute its direct, unsecured and unsubordinated obligations,” Fitch said in a press release.

Japfa plans to use the proceeds to refinance its $250 million of senior unsecured bonds due in March 2022 and for general corporate purposes.

The outlook is stable.

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