Moody's assigns Inalum notes Baa2

Moody's Investors Service said it assigned a Baa2 senior unsecured rating to the proposed senior notes to be issued by Indonesia Asahan Aluminium (Persero) (PT) (Inalum).

Inalum plans to use the proceeds to redeem certain of the company's bonds, buy a 20% to 25% stake in Vale Indonesia and refinance group debt, Moody’s said.

The Baa2 rating on the notes is in line with Inalum's rating and Moody's rating on the company's other senior unsecured bonds, the agency said.

The outlook is negative.

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