RELEASE: Fitch assigns final BB+ rating to Adaro's notes

Fitch Ratings-Singapore/Jakarta-22 October 2009: Fitch Ratings has today assigned a final issue rating of 'BB+' to the USD800m senior notes due 22 October 2019 issued by PT Adaro Indonesia (Adaro) and guaranteed by its parent, PT Adaro Energy Tbk.

The rating action follows the completion of the notes issue and receipt of documents conforming to the information previously received. The final rating is the same as the expected ratings assigned on 1 October 2009.

Adaro's foreign currency and local currency Issuer Default Ratings (IDR) are 'BB+' with a Stable Outlook. The ratings are supported by its large, low-cost operations, strong track record of growth, longstanding relationships with its leading customers and robust financials.

Adaro is Indonesia's second-largest thermal coal producer and operates under a 30-year first generation coal contract of work that is valid until 2022. It reported revenues and EBITDAR of USD1,092m and USD418m, respectively for the six months ended 30 June 2009. (end of release)