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Indonesia’s Global Sukuk Trust certificates rated ‘BB+’

Posted on 13 October 2011

Standard & Poor’s Ratings Services assigned its ‘BB+’ long-term foreign currency issue rating to the proposed issue of benchmark-sized global Sukuk trust certificates by Perusahaan Penerbit SBSN Indonesia II, a fully-owned special purpose vehicle of the Republic of Indonesia.
The rating on the certificates reflects S&P’s view that, under the related lease and repurchase agreement between the Government and PPSI-II, the Government is obliged to make all payments to PPSI-II to ensure that the issuer has sufficient funds to make full and timely periodic distribution and principal payments to certificate holders……………………………………….Full Article: Source

 
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