Fitch alters Bayan outlook to positive

Fitch Ratings said it revised the outlook on PT Bayan Resources Tbk.'s to positive from stable and affirmed the issuer rating at BB-.

“The positive outlook reflects Fitch's expectation of an improvement in Bayan's operational scale and a material reduction in operating risks from weather-related issues after the completion of its capex. Bayan expects to complete the construction of a hauling road connecting its key concession, Tabang, with the Mahakam River as well as the expansion of its barging and other related infrastructure by early 2023. The haul road will help Bayan avoid the disruptions that occurred in the past in barging coal through a small river during periods of low water levels,” Fitch said in a press release.

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