Moody's gives Pertamina Geo, bond Baa3

Moody's Investors Service said it gave Baa3 ratings to PT Pertamina Geothermal Energy and its planned dollar-denominated bonds.

The ratings reflect the view that the issuer’s parent, PT Pertamina (Persero) will help in times of stress, the agency noted.

The proceeds will be used primarily to refinance the company's bank loans and for other general corporate purposes.

The outlook is stable, which reflects the issuer’s contracts to provide power will not suffer any adverse changes in the near to medium term, Moody’s said.

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