Release: Fitch assigns 'B+ ' final rating to Star Energy Geothermal's Senior Secured Notes
Wednesday, February 10 2010 - 08:07 AM WIB
Fitch Ratings-Singapore/Sydney-10 February 2010: Fitch Ratings has today assigned a final rating of 'B+' and a final Recovery Rating of 'RR4' to Indonesia's Star Energy Geothermal (Wayang Windu) Limited's (SEG) USD350m senior secured notes.
This rating action follows the completion of the notes issue and receipt of documents conforming to information previously received. The final ratings are the same as the expected ratings assigned on 26 January 2010.
SEG is one of the largest geothermal electricity producers in Indonesia, with total installed capacity of 227MW. It has exclusive rights to exploit and utilise geothermal resources at the Wayang Windu contract area located in the highlands of West Java.
Fitch's Credit Analysis on Star Energy Geothermal (Wayang Windu) Limited dated 26 January 2010 is available at www.fitchratings.com (end of release)