Fitch rates Sinar Mas bonds A- (idn)

Fitch Ratings said it assigned A- (idn) national long-term ratings to PT Sinar Mas Multifinance’s proposed rupiah senior bond issuance. The company plans to offer bonds with maturities of 370 days and three years.

The bond offering is the fourth and final tranche under the company’s Rp 400 billion senior-bond program. The company plans to use the issue proceeds to support its working capital requirements.

The A- rating is the same as PT Sinar Mas Multifinance’s because the bonds will be direct and senior obligations and rank equally with other senior debt.

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