S&P Downgrades Ratings for Bakrie Sumatera Plantations
Standard & Poor’s ratings service on Friday said it had lowered its long-term corporate credit rating on the Bakrie group’s plantation company, PT Bakrie Sumatera Plantations, to B- from B, with a negative outlook.
S&P also lowered its rating on the company’s senior secured bonds due in 2011 to B- from B. These bonds were issued by subsidiary Bakrie Sumatera Plantations Finance and are guaranteed by the parent company.
JG
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