Indorayon's notes get BB<\/p>\n
HONG KONG (Reuter): Standard & Poor's said it had assigned a
\nrating of BB to Indorayon International Finance B.V.'s US$150
\nmillion 10 percent Guaranteed Notes due 2001 and had revised the
\noutlook to stable from negative.<\/p>\n
The issuer is wholly owned by, and the notes are guaranteed
\nby, PT Inti Indorayan Utama. The notes were issued on March 29 to
\nEuropean investors.<\/p>\n
Indorayon's rating reflects low operating costs, a favorable
\nregional growth outlook for dissolving pulp and rayon and the
\nincreasing integration of the company's operations, S&P said.<\/p>\n
The rating is limited to the current category due to the lack
\nof operational diversity and moderately aggressive finances.
\nIndorayon operates one mill in Sumatra, Indonesia.<\/p>\n
In a recently announced strategic initiative, Indorayon plans
\nto expand into core business production of those chemicals
\nrelated to the manufacture of paper pulp and rayon fiber.<\/p>\n
Subject to shareholder approvals, Indorayon is likely to
\nacquire the chemical operations of related company PT Riau
\nAndalan Pulp and Paper (Riaupulp), S&P said.<\/p>\n
Riaupulp is rated B-plus.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indorayons-notes-get-bb-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }