Fitch rates Federal International bonds AAA(idn)

Fitch Ratings said it assigned a national long-term rating of AAA(idn) to PT Federal International Finance's bonds with maturity of three years, along with a national short-term rating of F1+(idn) to bonds with maturity of 370 days.

This is the second tranche to be issued under the company’s debt program.

The bond issue will be up to Rp 1.5 trillion in size and the proceeds will be used to support the company's business growth, Fitch said.

The AAA national long-term rating is the highest rating assigned for that country, the agency said.

The ratings reflect an expectation that the company will receive support from its parent, PT Astra International Tbk., if needed, Fitch said.

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