Fitch rates Pertamina Persero's Proposed 2041 Notes 'BB+(exp)'

Fitch Ratings-Jakarta/Sydney/Singapore-20 May 2011: Fitch Ratings has assigned Indonesian national oil company PT Pertamina Persero's (Pertamina) proposed 2041 USD senior unsecured notes (notes) an expected rating of 'BB+(exp)'. The final rating of the notes is contingent upon the receipt of final documents conforming to information already received. Simultaneously, the agency has assigned Pertamina a senior unsecured rating of 'BB+'.

This proposed issuance follows the USD1bn 2021 senior unsecured notes, assigned a final rating of 'BB+' on 19 May 2011 (for more information please refer to the rating action commentary, entitled "Fitch Assigns Pertamina's USD1bn 2021 Notes 'BB+' Final Rating").

On 3 May 2011, Fitch assigned a 'BB+' Long-Term Foreign-Currency Issuer Default Rating with a Positive Outlook to Pertamina (for more information please refer to the rating action commentary, entitled "Fitch Rates PT Pertamina (Persero) 'BB+'; Outlook Positive"). (ends)