Tuesday, August 2, 2011

B1 Moody Rating for PT Berau Coal Energy Tbk

Moody's Investors Service assign B1 ratings on PT Berau Coal Energy Tbk (BCE) with a stable outlook. In addition, at the same time, Moody's interesting rankings PT Berau Coal is a subsidiary of Berau Coal Energy for business reasons.

Agency that certifies the ratings reflect the consolidated credit profile BCE. In addition, Moody's has set a B1 rating to the bonds worth U.S. $ 450 million five-year tenure that was published by the Berau Capital Resources Pte Ltd, owned by BCE. Debt securities are guaranteed by BCE and its subsidiaries including the Berau Coal.

Vice President and Senior Analyst Moody's Simon Wong explains the ranking also reflects the ownership of BCE in Berau Coal is one of the largest coal producer and eksportor least cost.

"Berau Coal has a track record of consistent growth in production and customer base with regular payments and good," he said today.

He lays out the agency hopes BCE gradually reduce the amount of debt despite having an expansionary capital expenditure plans.

A total of 84.7% stake owned by BCE Earth Plc, owned by PT Bakrie & Brothers Tbk. The company still Earth Plc shares pledged to secure loans. Furthermore, PT Recapital Advisors, through PT Bukit Mutiara has a 4.3% stake in BCE and 20.4% stake in Bumi Plc.

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