Fitch rates Bali Tower bond A-

Fitch Ratings Indonesia said it assigned PT Bali Towerindo Sentra Tbk.'s sukuk ijarah bond issuance of up to Rp 600 billion an A-(idn) national long-term rating.

“The issuance is rated at the same level as Bali Tower's national long-term rating because the notes represent its senior unsecured obligations,” Fitch said in a press release.

The bonds will be used to refinance debt and for capital expenditures.

The outlook is stable.

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