Moody’s rates Sarana Multi notes Baa2

Moody’s Ratings said it rated PT Sarana Multi Infrastruktur (Persero)’s $300 million drawdown from its $2 billion euro-medium-term note program Baa2. The agency also assigned a provisional (P) Baa2 foreign-currency senior secured rating to the program and a Baa2 long-term foreign-currency issuer rating to the company.

The outlook is stable.

The company is fully owned by the Indonesian government, rated Baa2 with a stable outlook, through the ministry of finance. Given government ownership, Moody’s said it assumes SMI would receive help from the government if needed.

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