Alam Sutera downgraded amid refi pressure

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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