Alam Sutera downgraded amid refi pressure

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By Morgan Davis
05 Aug 2020

Indonesian high yield property companies are continuing to come under fire, with Alam Sutera becoming the latest to be hit with a downgrade due to bond refinancing concerns.

Fitch Ratings downgraded Alam Sutera to CCC- on Tuesday, citing the company’s struggle to find funds to refinance a $115m bond coming due in April 2021. The company was already downgraded to B- by Fitch and to CCC+ by S&P Global Ratings in April, and to Caa1 by ...

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