Fitch revises Indika’s outlook to negative; affirms at ‘B+’

Fitch Ratings has revised Indonesia-based Indika Energy Tbk’s (Indika) Outlook to Negative from Stable. At the same time the agency has affirmed Indika’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at ‘B+’. Indika’s senior unsecured notes have also been affirmed at ‘B+’ with a Recovery Rating of ‘RR4’.