Fitch rates Freeport Indonesia BBB-

Fitch Ratings said it assigned BBB- ratings to PT Freeport Indonesia and its planned dollar-denominated senior unsecured notes.

“The ratings reflect PTFI's large production scale and reserves, long mine life, solid cost position and robust financial metrics. These are counterbalanced by its single asset in Indonesia, which exposes PTFI to the prevailing regulatory risks of the country,” Fitch said in a press release.

The proceeds will be used to finance the smelter projects and for general corporate purposes.

The outlook is stable.

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