S&P rates Pertamina notes BB+

Standard & Poor's said it assigned a BB+ issue rating to the proposed senior notes by PT Pertamina.

The outlook is positive.

The issue rating reflects the BB+ long-term corporate credit rating assigned to Pertamina.

Pertamina expects to use the proceeds from the proposed notes for general corporate purposes and to fund its capital expenditures.

The ratings consider that Pertamina has a critical role and integral link with the Indonesian government and an almost certain likelihood of extraordinary government support, the agency said.

The BB+ stand-alone credit profile reflects substantial ongoing government influence as well as Pertamina's integrated and dominant domestic business and significant investment program that is partially debt funded, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.