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INDONESIA'S PEFINDO AFFIRMS RATING FOR PAPER MAKER TJIWI KIMIA.

AsiaPulse News

| January 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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