Fitch rates Salak-Darajat notes BBB-

Fitch Ratings said it assigned Star Energy Geothermal Restricted Group’s (Salak-Darajat or Segsd RG) proposed senior secured dollar-denominated notes due 2029 and dollar-denominated notes due 2038 expected ratings of BBB-.

“The Segsd RG benefits from its long-term energy sale contracts (ESCs) to utilize geothermal resources and sell steam and electricity to Indonesian government-owned power company PT Perusahaan Listrik Negara (Persero)'s (PLN, BBB/stable),” Fitch said in a press release.

The outlook is stable.

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