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Fitch Revises Outlook on Aneka Gas to Stable; Rates Notes

By Fitchratings.com27 February 2019

Fitch Ratings-Jakarta-27 February 2019: Fitch Ratings Indonesia has revised the Outlook on PT Aneka Gas Industri Tbk's National Long-Term Rating to Stable from Positive and affirmed the rating at 'A-(idn)'. At the same time, Fitch has assigned Aneka Gas's proposed IDR180 billion bonds and IDR110 billion sukuk ijara National Ratings of 'A-(idn)'. The bonds will be issued in two tranches with maturities in 2022 and 2024 and the sukuk ijara will be due in 2022. Proceeds will be used to refinance the company's debt. A full list of rating actions is at the end of this commentary.

The issuances are the third phase of Aneka Gas's IDR500 billion bond and IDR500 billion sukuk ijara programmes and are rated at the same level as the programmes, whose 'A-(idn)' National Ratings were published on 19 May 2017.

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