Moody's lifts Bayan Resources, notes to Ba2

Moody's Investors Service said it upgraded Bayan Resources Tbk.'s corporate family rating to Ba2 from Ba3 and Bayan's senior unsecured notes rating to Ba2 from Ba3.

At the same time, Moody's revised the outlook to stable from positive.

“The upgrade to Ba2 reflects our expectation that Bayan will maintain very strong credit metrics over the next 12-18 months, with very good liquidity and effectively no debt following the early repayment of its outstanding US dollar notes with cash next month,” said Maisam Hasnain, a Moody's vice president and senior analyst, in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.