Fitch: Wahana Ottomitra bonds AA-(idn)

Fitch Ratings Indonesia said it assigned national long-term ratings of AA-(idn) to PT Wahana Ottomitra Multiartha Tbk.'s (AA-(idn)/stable) proposed senior unsecured bonds, as follows: (a) Bonds issued under the second tranche of the second bond program with a maturity of 370 days; and (b) bonds issued under the second tranche of the second bond program with a maturity of three years.

The bond issuance will be up to Rp 1 trillion in size and the proceeds will be used to support the company's working capital requirements.

Fitch said AA national ratings denote expectations of low default risk relative to other issuers or obligations in the same country. However, changes in circumstances or economic conditions may affect the capacity for timely repayment to a greater degree than is the case for financial commitments denoted by a higher rated category.

The senior unsecured bonds are rated at the same level as Wahana Ottomitra’s national long-term rating in accordance with Fitch's criteria.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.