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Jakarta Post

PLN’s global bonds get positive ratings from major agencies

  • Mariel Grazella

    The Jakarta Post

Jakarta   /   Wed, October 17 2012   /  11:04 am

High-risk job: Workers of state electricity company PT Perusahaan Listrik Negara (PLN) replace a transformer mounted on a utility pole in Tebet, South Jakarta, in this photo taken in March. PLN has planned to issue 30-year US dollar bonds. JP/P.J. LeoThe 30-year US dollar bonds that state-owned electricity company, PT PLN, plans to issue have received positive ratings from international rating agencies, signaling that the company can weather short-term shocks; yet, the company still faces headwinds that may influence its financial solidity.

Standard and Poor’s Ratings Services assigned a “BB” rating to the bonds, which the company will issue under their US$2 billion global medium-term notes program. The “BB” rating signifies that the company is less vulnerable in the short term but must brace against uncertainties that could threaten business and economic conditions.