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Prospect News home > News index > List of issuers P > Headlines for PT Indofood CBP Sukses Makmur Tbk. > News item |
Fitch rates Indofood notes BBB-
Fitch said it gave a BBB- rating to PT Indofood CBP Sukses Makmur Tbk.’s (ICBP) planned senior unsecured notes. The company is a subsidiary of PT Indofood Sukses Makmur Tbk.
“The proposed notes are rated at the same level as ICBP's long-term issuer default rating of BBB- as they constitute direct senior unsecured obligations of the issuer,” Fitch said in a press release.
The proceeds will be used to pay the retention amount of up to $650 million due April 2022 as part of ICBP's acquisition of Pinehill Co. Ltd. The remainder will be for general corporate purposes, including working capital.
The outlook is stable.
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