Fitch: Perusahaan Listrik Negara bonds BB+

Fitch Ratings said it assigned an expected BB+ rating to PT Perusahaan Listrik Negara's 10-year dollar-denominated bonds to be issued under its $2 billion global medium-term notes program.

The final rating of the proposed notes is contingent upon the receipt of documents conforming to information already received.

The proceeds will be used for capital expenditure and general corporate purposes.

The company's long-term foreign-currency issuer default rating of BB+ and positive outlook are equalized with those of its parent, the Indonesian sovereign, based on the strong ties between the two, Fitch said.

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