(BRNA) Fitch affirms Berlina at 'A-(idn)'; Rates MTNs 'A-(idn)'

Fitch affirms Berlina at 'A-(idn)'; Rates MTNs 'A-(idn)'
23 September 2014 08:58 AM Company: PT. Berlina Tbk[BRNA]
Rp. 775 -15 (-1.9%)

JAKARTA - Fitch Ratings has affirmed PT Berlina Tbk (Berlina) at 'A-(idn)'. The Outlook is Stable. Fitch has also assigned the plastic packaging company's proposed medium-term notes (MTNs) a rating of 'A-(idn)'.

The issue size will be up to Rp200 billion and the notes will have a maturity of up to three years. Berlina plans to use the proceeds to refinance its loan and for working capital.

The MTNs are rated at the same level as Berlina as they constitute direct, unsubordinated and senior obligations of the company and rank equally with all other unsubordinated obligations.

'A' National Ratings denote expectations of low default risk relative to other issuers or obligations in the same country. However, changes in circumstances or economic conditions may affect the capacity for timely repayment to a greater degree than is the case for financial commitments denoted by a higher rated category.
- See more at: http://www.idnfinancials.com/n/8807/Fitch-affirms-Berlina-at-A-idn-Rates-MTNs-A-idn#sthash.vT8FZBxy.dpuf