Fitch affirms Minejesa Capital notes

Fitch Ratings said it affirmed the rating on Minejesa Capital BV's $2.1 billion notes at BBB-.

The outlook is stable.

The notes are guaranteed by PT Paiton Energy.

“The ratings are supported by the absence of demand risk or merchant market exposure for Paiton due to its favourable power purchase agreement (PPA) with PT Perusahaan Listrik Negara (Persero) (PLN; BBB/stable), which expires in 2042,” the agency said in a news release.

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