Fitch rates Delta Merlin notes BB-

Fitch Ratings said it assigned an expected long-term foreign-currency issuer default rating of BB- to PT Delta Merlin Dunia Textile with a stable outlook.

Fitch also said it assigned an expected rating of BB- the company's proposed dollar-denominated senior unsecured notes.

The proceeds will be used for refinancing and general corporate purposes, the agency said.

The ratings are driven by the company's position as the largest weaving company in Indonesia, its low cost structure and its established relationships with key customers, Fitch said.

Delta Merlin also benefits from being part of the larger Duniatex group, which ensures a steady supply of yarns with more consistent quality and competitive price and gives Delta Merlin a shorter lead time for its orders, the agency said.

The ratings are supported by the company's strong market position, low cost structure and established relationship with key customers, Fitch said.

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