Fitch Publishes Bumi Serpong's 'BB-' Rating; Rates US Dollar Bonds

April 15, 2015 6:36 AM

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(The following statement was released by the rating agency) SINGAPORE/JAKARTA/SYDNEY, April 15 (Fitch) Fitch Ratings has published Indonesia-based property developer PT Bumi Serpong Damai Tbk's (BSD) Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB-' with a Stable Outlook.

The agency has also assigned an expected rating of 'BB-(EXP)' to the company's proposed five-year US dollar notes, issued by Global Prime Capital Pte Ltd (a wholly owned subsidiary of BSD), and guaranteed by BSD and its subsidiaries. The final rating on the notes is contingent upon the receipt of fi...

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