Monday, May 10, 2010

Fitch assigns final B rating to Bakrie Telecom's notes

Fitch Ratings has today assigned a final rating of B and a final Recovery Rating of RR4 to Bakrie Telecom Pte. Ltd.'s US$250m senior notes due 7 May 2015.
Bakrie Telecom Pte. Ltd. is a wholly-owned subsidiary of PT Bakrie Telecom Tbk (BTEL, B/Stable), and is guaranteed by the latter.
This rating action follows the completion of the note issue and receipt of document conforming to information previously received. The final rating is the same as the expected rating assigned on 21 April 2010.
Bakrie Telecom this year allocates US$200 million capital expenditure which was initially covered by the vendor financing and internal cash.

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