Fitch affirms Arpeni Pratama Ocean Line

Fitch Ratings said it affirmed the BB- long-term foreign- and local-currency issuer default ratings and the A+(idn) national long-term rating of PT Arpeni Pratama Ocean Line Tbk, along with the BB- rating on its $160 million senior notes due 2013.

The outlook remains stable.

The ratings reflect its long-term contract oriented business model, which provides earnings visibility and insulates the company from volatile shipping cycles, Fitch said.

The ratings also take into account the company's strong and established position within Indonesia's domestic coal transportation market, the agency added.

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