peringkat utanK adro TAK berubah … 190911_240714

PT Adaro Energy Tbk (ADRO) bakal mengantongi pinjaman sebesar US$ 1,25 miliar atau
sekitar Rp 14,5 triliun. Sebanyak 14 bank asing telah berkomitmen untuk mendanai perusahaan
batubara terbesar kedua di Indonesia tersebut.

Ke-14 bank tersebut adalah ANZ Bank, Bank of Tokyo Mitsubishi-UFJ, CIMB, CTBC Financial
Holding, Citi, DBS, HSBC, ING, Maybank, Mizuho, OCBC, Standard Chartered, Sumitomo Mitsui
Banking Corp, dan UOB.

Adaro bakal mengantongi fasilitas pinjaman bertenor tujuh tahun. Untuk mendapatkan pinjaman
tersebut, Adaro mengatur sendiri dalam sebuah club deal, sehingga tidak menunjuk mandated
lead arranger. (investor/dk)

TEXT-Fitch:No immediate imp on Adaro Indonesia rtg from acq.
Fri, Aug 26 2011

(The following statement was released by the ratings agency)

Aug 26 – Fitch Ratings has said that PT Adaro Indonesia’s (Adaro Indonesia) ratings are not immediately affected by its parent’s, PT Adaro Energy Tbk (Adaro Energy), acquisition of a 75% stake in a green field coal mining company for USD222.5m. Adaro Indonesia is rated Long-Term Foreign and Local Currency Issuer Default ‘BB+’ with Stable outlooks. Its USD800m senior notes due in 2019, guaranteed by Adaro Energy, are also rated ‘BB+’.

The acquisition is to be funded by drawing down on existing credit facilities of Adaro Indonesia. In Fitch’s view, the immediate increase in debt and associated interest does not significantly affect Adaro Indonesia’s financial profile. The company is yet to announce details of the coal resources acquired and associated development costs or any guidance on coal production from this venture. Fitch will review the ratings once these details are made available.

Both Adaro Energy and Adaro Indonesia continue to display strong financial profiles, including robust liquidity. Both companies reported improved financial results for the six months ended June 2011 due to higher coal production and stronger selling prices relative to 2010. Fitch expects coal prices to remain robust and Adaro Indonesia to benefit from increasing production in the short- to medium-term. At end-June 2011, Adaro Indonesia’s adjusted debt net of cash to operating EBITDAR and funds from operations interest coverage were 0.85x and 8.72x, respectively (0.83x and 8.71x, respectively for Adaro Energy).


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