Fitch rates Federal International Finance AAA(idn)

Fitch Ratings said it assigned a national long-term rating of AAA(idn) to PT Federal International Finance's proposed rupiah senior unsecured bonds with a maturity of 370 days and a national long-term rating of AAA(idn) on its bonds with a maturity of 36 months.

Federal International Finance's proposed bond issuance will be up to Rp 3.5 trillion in size, Fitch said.

The proceeds from the issuance will be used to support the company's business growth, the agency said.

The bonds are rated at the same level as the company's national long-term rating, Fitch said.

The ratings reflect an expectation that Federal International will continue to benefit from strong support and commitment from its parent, PT Astra International Tbk., in times of need, the agency said.

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