S&P rates Polysindo notes BB minus<\/p>\n
MELBOURNE (Reuter): Standard and Poor's Corp said yesterday it
\nassigned its BB minus credit rating to the US$260 million senior
\nnotes issued by Indonesia's Polysindo International Finance Co
\nB.V.<\/p>\n
S&P said it has placed this rating on creditwatch with
\npositive implications. The notes are guaranteed by Polysindo's
\nparent PT Polysindo Eka Perkasa.<\/p>\n
The BB minus rating assigned to Polysindo's US$125 million
\n2001 global notes remains on creditwatch with developing
\nimplicatons.<\/p>\n
\"The BB minus rating assigned to Polysindo reflects the
\nprospective integration of the company's petrochemical production
\nfacilities with its well established position in the polyester
\nfiber sector, and efficient production close to the high-growth
\nSoutheast Asian markets,\" S&P said.<\/p>\n
S&P said the BB minus rating assigned to Polysindo's US$125
\nmillion 2001 global notes remain on creditwatch with developing
\nimplications.<\/p>\n
It said Polysindo was the largest textile producer in
\nIndonesia and was close to completing the first stage of a major
\nupgrade to its petrochemical production capability.<\/p>\n
\"Operating margin for the group has remained strong, although
\nother credit measures have weakened over the past three years,
\nreflecting the heavy debt usage of assets under development,\" S&P
\nsaid.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/sp-rates-polysindo-notes-bb-minus-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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