Fitch rates Wahana bonds AA(idn), F1+(idn)

Fitch Ratings Indonesia has assigned ratings to PT Wahana Ottomitra Multiartha Tbk.'s (AA(idn)/stable) proposed senior unsecured bonds as follows: bonds with maturity of three years assigned national long-term rating of AA(idn); and bonds with maturity of 370 days assigned national short-term rating of F1+(idn).

This is the third tranche to be issued under Wahana’s debt program. The bond issue will be up to Rp. 1 trillion in size and proceeds will be used to support the company's business growth.

The bonds and debt program are rated at the same level as Wahana’s national ratings. This is because they constitute direct, unsubordinated and senior unsecured obligations of Wahana and rank equally with all its other unsecured and unsubordinated obligations, Fitch said.

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