Salim's Gallant Venture Bags US$200 Million Loan
SINGAPORE, Indonesia Today - Salim Group's Gallant Venture Ltd has obtained US$200 million term loan facilities arranged by Bank CIMB-Niaga.
What People Say if SBY Pursues a Film Career?
JAKARTA, Indonesia Today – Public discussed intensely about a report that President SBY will starting his film career in a…
Bank Permata Posts 14% Profit Growth in 2011
JAKARTA, Indonesia Today - PT Bank Permata Tbk (BNLI) booked profit of Rp1.16 trillion in 2011, grew 14% compared to…
Demand Weakness & Fuel Prices Force Singapore Airlines Cargo to Cut 20% Capacity
SINGAPORE, Indonesia Today - Singapore Airlines Cargo has cut freighter capacity by 20 percent in response to continuing weakness in…
Andi Mallarangeng Denies Allegations in Court
JAKARTA, Indonesia Today - "I don't know", "I'm not sure", "I forgot", "No", "Never" were the main answers of Andi…
Aberdeen Invests in Aceh Gold Projects
TORONTO, Indonesia Today - Global investment and merchant banking company, Aberdeen International Inc., assessed its investment in East Asia Minerals…
WOM Finance Profit Crashed 96%
JAKARTA, Indonesia Today - Consumer financing firm, PT Wahana Ottomitra Multiartha Tbk (WOMF), subsidiary of Bank International Indonesia, reported net…
Coca-Cola Amatil Posts 17.5% Growth in Indonesia & PNG
SYDNEY, Indonesia Today - Coca Cola Amatil Limited reported earnings before interest, tax, and significant items in Indonesia and Papua…
Wilmar & ADM Mull Global Partnership in Fertilizer, Ocean Freight & Refining
DECATUR, Indonesia Today - Archer Daniels Midland Company (ADM) and Wilmar International Ltd mull global partnership in fertilizer purchasing and…
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SINGAPORE, Indonesia Today - Fitch Ratings has downgraded Berlian Laju Tanker Tbk's (BLT) Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) to 'C' from 'CCC'.
The rating on BLT's US$400 million senior unsecured notes due 2014, issued by BLT Finance B.V. and guaranteed by BLT, has also been lowered to 'C' from 'CC' with an associated recovery rating of 'RR5'. The rating watch negative (RWN) assigned to the ratings on Jan 25 2012 has been removed.
The downward revision in ratings follows BLT's announcement of a debt standstill. In its debt standstill announcement dated January 27, 2012, the company stated that the consolidated entity will temporarily cease making repayments on its loans, bonds and lease facilities excluding repayments on the debt and leases assumed by PT Buana Listya Tama Tbk. The BLT Group's obligations to its suppliers and trade creditors will not be covered by the Debt Standstill. The company also reported that it plans to continue with normal business and operations.
The ratings will be further lowered to 'RD' if the coupon and/ principal repayments are not made within the contractual cure period. The cure period refers to a provision in a contract allowing a defaulting party to fix the cause of a default. (Indonesia Today)
Berlian Laju Tanker Ratings
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