Jul 11, 2011

Fitch withdraws Sulfindo rating

Fitch Ratings has affirmed PT Sulfindo Adiusaha's (Sulfindo) long-Term foreign issuer default rating (IDR) and senior unsecured debt at B. 
The outlook has been revised to negative from stable due to potential liquidity risks in FY12 in the event that the financing for the ongoing construction of the power plant does not proceed as planned. The ratings have simultaneously been withdrawn. The withdrawal is due to the likely lack of sufficient information to maintain the ratings going forward as the company is privately owned. Fitch will no longer provide ratings or analytical coverage of this issuer.  

Disclosure: No position at the stock mentioned above.

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