Moody's assigns Inalum notes Baa2

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

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

Inalum plans to use the proceeds to repurchase and cancel its bonds that are part of a tender offer being launched in conjunction with the bond. “Moody's expects the transaction to be leverage neutral,” the agency said in a press release.

The outlook is stable.

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