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Bulletin: PT Berau Coal Energy Rating Unaffected By Third-Quarter Results Nov 11
Standard & Poors, Nov 2011
Abstract
SINGAPORE (Standard & Poor's) Nov. 18, 2011--Standard & Poor's Ratings Services said today that its corporate credit rating on Indonesia-based PT Berau Coal Energy (BB-/Stable/--) is unaffected by the company's third-quarter results. The company's ratio of debt to EBITDA of 1.5x for the 12 months ended Sept. 30, 2011, was in the 1.5x-2.0x range we had expected. In our base-case scenario for Berau, we anticipate that the ratio will remain in a 1.5x-2.5x range for 2012 and sales volumes will be 20 million-21 million tons. Berau's US$146 million capital spending plan for 2012 is slightly higher than the US$130 million we had anticipated. Nevertheless, we still expect the company to have positive free operating cash flows in 2012 under the...
Companies mentioned in this report are: PT Berau Coal Energy
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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