Fitch assigns Bukit Makmur notes BB-

Fitch Ratings said it assigned a BB- rating to PT Bukit Makmur Mandiri Utama’s proposed U.S.-dollar notes.

“The proposed notes are rated at the same level as BUMA’s issuer default rating (IDR), as they constitute its direct, unsubordinated and unsecured obligations,” the agency said in a press release.

BUMA plans to use the proceeds to repay all or the majority of its debt.

The outlook is negative.

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