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JAKARTA, Jan 1 Asia Pulse - Indonesian credit rating agency Pefindo said on Thursday it has affirmed its ratings for publicly-listed paper maker PT Tjiwi Kimia Tbk. and the company's bond I/A of Rp58.68 billion (US$6.22 million) due in October 2014 and bond I/B of Rp100 billion due in October 2017.
The ratings reflect relatively strong demand for paper products, vertically integrated operation within the Group and relatively above average cash flow protection due to a low interest rate and lenient loan maturity profile, the agency said in a statement.
However, the ratings ...