Bangkok--20 Oct--Moody's Investors
Approximately $800 Million of Debt Securities Affected
Moody's Investors Service has today assigned a final Ba1 rating for the 10 year, 7.625%, US$800 million Guaranteed Senior Notes issued by PT Adaro Indonesia ("Adaro") and guaranteed by its parent PT Adaro Energy TbK ("Adaro Energy"). The bond rating has been removed from its provisional status following the completion of the bond issue. The outlook on the rating is stable.
The bond proceeds will be used for capex and general corporate purposes.
The principal methodology used in rating Adaro was Moody's Global Mining Industry published in May 2009, and available on www.moodys.com in the in the Rating Methodologies sub-directory under the Research & Ratings tab.
Other methodologies and factors that may have been considered in the process of rating this issuer can also be found in the Rating Methodologies sub-directory on Moody's website.
The last rating action was taken on 2nd October 2009 when Adaro's local currency corporate family rating was affirmed at Ba1/stable and a provisional senior unsecured rating of Ba1/stable was assigned to the proposed US$800 million bond issuance.
Adaro is one of the largest single site coal producers in the southern hemisphere and one of the world's largest sub-bituminous coal companies.
It exports approximately 77% of its products to Southeast Asia, the US and Europe, while the rest is for the domestic market. It is wholly owned by Adaro Energy which is listed on the Indonesia Stock Exchange.
Hong Kong
Laura Acres
Vice President - Senior Analyst
Corporate Finance Group
Moody's Asia Pacific Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (852) 3551-3077
Singapore
Tony Tsai
Senior Vice President
Corporate Finance Group
Moody's Singapore Pte Ltd.
JOURNALISTS: (852) 2916-1150
SUBSCRIBERS: (65) 6398-8308