KONTAN.CO.ID - JAKARTA. International rating agency Fitch Ratings downgraded the credit rating of PT Lippo Karawaci Tbk (LPKR) to the level of CCC + / BB- from BBB +. The company also received a negative outlook. The downgrade affected the rupiah-denominated long-term bonds to CCC + and senior unsecured bonds issued by Theta Capital Pte Ltd, guaranteed by Lippo and its subsidiaries. "At the same time, Fitch Ratings Indonesia has downgraded Lippo's National Long-Term Rating and assigned a Negative Outlook. All ratings have been removed from Rating Watch Negative (RWN), on which they were placed on 3 May 2018," according to a Fitch report released on Friday (11/2).
Corruption cases tarnished the Lippo brand: Fitch Ratings
KONTAN.CO.ID - JAKARTA. International rating agency Fitch Ratings downgraded the credit rating of PT Lippo Karawaci Tbk (LPKR) to the level of CCC + / BB- from BBB +. The company also received a negative outlook. The downgrade affected the rupiah-denominated long-term bonds to CCC + and senior unsecured bonds issued by Theta Capital Pte Ltd, guaranteed by Lippo and its subsidiaries. "At the same time, Fitch Ratings Indonesia has downgraded Lippo's National Long-Term Rating and assigned a Negative Outlook. All ratings have been removed from Rating Watch Negative (RWN), on which they were placed on 3 May 2018," according to a Fitch report released on Friday (11/2).