{
    "success": true,
    "data": {
        "id": 1404778,
        "msgid": "fajar-to-restructure-debts-1447893297",
        "date": "1998-04-25 00:00:00",
        "title": "Fajar to restructure debts",
        "author": null,
        "source": "DJ",
        "tags": null,
        "topic": null,
        "summary": "Fajar to restructure debts HONG KONG (Dow Jones): Indonesia's Fajar Surya Wisesa said yesterday it will seek to restructure its outstanding debts, totaling at least US$265 million, and ask creditors to accept a moratorium on principal and interest payments until the restructuring is complete. The maker of industrial paper products said its financial position had been negatively effected by the sharp decline in the value of the Indonesian rupiah against the U.S.",
        "content": "<p>Fajar to restructure debts<\/p>\n<p>HONG KONG (Dow Jones): Indonesia's Fajar Surya Wisesa said<br>\nyesterday it will seek to restructure its outstanding debts,<br>\ntotaling at least US$265 million, and ask creditors to accept a<br>\nmoratorium on principal and interest payments until the<br>\nrestructuring is complete.<\/p>\n<p>The maker of industrial paper products said its financial<br>\nposition had been negatively effected by the sharp decline in the<br>\nvalue of the Indonesian rupiah against the U.S. dollar and high<br>\ndomestic interest rates that quashed local demand for paper<br>\nproducts.<\/p>\n<p>Meanwhile Standard &amp; Poor's credit rating agency said<br>\nyesterday it had cut its corporate credit rating Fajar Surya to<br>\nNot Meaningful from Double-C\/Watch Negative\/minus.<\/p>\n<p>It has also cut its rating to Single-D from Double-C\/Watch<br>\nNegative\/minus on guaranteed subsidiary FSW International Finance<br>\nCo. BV's $135 million 12.5 percent notes due 2006.<\/p>\n<p>These rating actions follow Fajar's announcement that the<br>\ncompany is suspending payments on its rated note issue.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/fajar-to-restructure-debts-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}