Fitch Upgrades Indika Energy to ‘B/ Stable’; Rates USD Notes Final ‘B’

Fitch Ratings has upgraded Indonesia-based PT Indika Energy Tbk’s Long Term Foreign and Local Currency Issuer Default Ratings (IDR) to ‘B’ from ‘CCC’. The agency has also upgraded Indika’s outstanding senior notes due 2018 and 2023 to ‘B’ from ‘CCC’ with a Recovery Rating of ‘RR4’.