Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tower Bersama Infrastructure Tbk. > News item |
Moody’s lifts TBG Global notes to Ba2
Moody's Investors Service said it affirmed Tower Bersama Infrastructure Tbk.’s Ba2 corporate family rating and upgraded the $300 million senior unsecured notes of wholly owned subsidiary TBG Global Pte. Ltd. to Ba2 from Ba3.
Tower Bersama unconditionally and irrevocably guarantees the notes.
The outlook remains negative.
"TBI's adjusted debt/EBITDA at 6.2x for LTM ended March 2015 (based on the last 12 months EBITDA) remains high for the Ba2 ratings. Although this is partly due to the impact of currency depreciation, we note that adjusted leverage on a hedged basis also remains high at 5.6x," Moody's assistant vice president and analyst Nidhi Dhruv said in a news release.
© 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.