Fitch rates Bayan Resources notes BB-

Fitch Ratings said it assigned PT Bayan Resources Tbk.’s proposed dollar-denominated notes a rating of BB-.

The notes will constitute Bayan’s direct, unconditional and unsecured obligations. Bayan’s rating reflects the low-cost position of its key coal mine, adequate reserves, diversified customer base and a strong financial profile. This is partially offset by mine concentration, regulatory risk and the coal industry’s cyclical nature, Fitch said.

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