Printer Friendly

-Lippo Karawaci gets Fitch's final B+ rating for USD125m notes.

BANKING AND CREDIT NEWS-March 7, 2011--Lippo Karawaci gets Fitch's final B+ rating for USD125m notes(C)2011 M2 COMMUNICATIONS

7 March 2011 - Fitch set on Monday a final B+ rating with a final recovery rating of 4 to the USD125m (EUR89.4m) notes of Indonesian residential and commercial urban developer PT Lippo Karawaci Tbk (JAK:LPKR), or LK, which were issued by its unit Sigma Capital Pte Ltd.

The notes, due 30 April 2015, are guaranteed by LK, with proceeds from the offering to be used for debt refunding.

The rating action follows the notes issue completion and the receipt of documents confirming the information previously obtained, the agency said. The final rating is the same as the expected one assigned on 9 February 2011, Fitch added.

((Comments on this story may be sent to>PDMarch 7, 2011>JNBANKING AND CREDIT NEWS.PRICEDATENOT APPLICABLE.DAY

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Mar 7, 2011
Previous Article:-Junko Nakagawa first female to take top financial role at Nomura.
Next Article:-AM Best cuts Pennsylvania Lumbermens Mutual Insurance's outlook to "negative".

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters