Fitch: ABM Investama notes BB-

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating of BB- to PT ABM Investama Tbk.

The outlook is stable.

The agency also said it assigned an expected rating of BB- on ABM's proposed dollar-denominated senior notes.

The proceeds will be used to repay the company's existing secured term loan, Fitch said.

The ratings on the proposed notes are contingent upon the receipt of final documents conforming to information already received, the agency said.

The ratings reflect ABM's well established and diversified operations, which include Indonesia's fourth largest coal contracting business, Fitch said.

The company benefits from its relationships with affiliated companies, the agency said.

The ratings also consider the company's exposure to the cyclical coal industry, Fitch said.

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