PKT bonds rating AA-

PT Pemeringkat Efek Indonesia (PEfindo) rated the IDR1.3 trillion bonds of PT Pupuk Kaltim at the level of AA-.
My source said yesterday the rating here was given with reference to the government support to the company and its well financial performance.
President Director of Pefindo Kahlil Rowter declined to comment. "I could not comment yet," he said last night.
Currently PKT and underwriter plan to propose IDR1.3 trillion worth bond issuance to the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) by end of the month.
Director of Danareksa Sekuritas Marciano H. Herman as the underwriter said the bond could be issued by September with the proposal submission to Bapepam this month.
"We had done all reviews and preparation of bond issuance and we submitted the proposal to Bapepam-LK this month," he said yesterday.
Pupuk Kaltim mounted the value of bond issuance as of IDR1 trillion into IDR1.3 trillion consisting of the II/2009 bond series worth IDR1 trillion and sharia bonds of I/2009 worth IDR300 billion.
Finance Director of Pupuk Kaltim Eko Sunarko formerly said that the corporate bonds and sharia bonds have AA rating with 10.45 percent coupon offered to the investor.