Fitch affirms Arpeni Ocean Line notes at C

Bisnis.com,09 Des 2010, 03:53 WIB

JAKARTA: Fitch Ratings has today affirmed PT Arpeni Pratama Ocean Line Tbk's (Arpeni) foreign and local currency Issuer Default Ratings (IDR) at RD, its National Long-term rating at RD(idn) and the C rating on Arpeni's USD senior unsecured notes due 2013.This a correction of the commentary issued on 8 December 2010 entitled Fitch Downgrades Arpeni's USD Notes to D. Fitch corrects that the rating on Arpeni's USD notes has been affirmed at C, and not downgraded to D. A corrected version follows:The rating affirmations follow Arpeni's failure to pay the missed coupon on the USD notes which fell due on 3 November 2010 within the 30-day grace period. The affirmation of the C rating on the USD notes is in line with Fitch's approach in relation to defaulted obligations, which are typically rated in the B to C rating categories, depending upon their recovery prospects and other relevant characteristics. This approach better aligns obligations that have comparable overall expected loss but varying vulnerability to default and loss. (wiw)

Cek Berita dan Artikel yang lain di Google News dan WA Channel

Simak berita lainnya seputar topik di bawah ini:

Editor: Mursito

Terkini