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Article: INDONESIA'S BAHTERA ADIMINA SAMUDRA HIT BY BOND RATING DOWNGRADE.
- Article from:
- AsiaPulse News
- Article date:
- May 31, 2004
CopyrightCOPYRIGHT 2004 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)
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JAKARTA, May 31 Asia Pulse - PT Kasnic Credit Rating Indonesia (KCRI) has downgraded the rating of publicly-listed PT Bahtera Adimina Samudra Tbk's (BSE:BASS) bonds worth Rp100 billion (US$10.8 million) to BBB- with negative outlook from BBB.
In a press release issued on Friday, KCRI said Bahtera had its bond rating downgraded following a drop in its net operating profit and an increase in its operating expenses last year.
The release said the drop ...