...PT Ivo Mas Tunggal's (IMT) and PT Sawit Mas Sejahtera's (SMS) ratings are aligned with the consolidated credit profile of their parent company, Golden Agri-Resources Ltd. (GAR), under our Parent and Subsidiary Linkage Criteria. GAR's credit profile benefits from its large plantation scale and strong vertical integration with an extensive downstream operation. It also reflects Fitch Ratings' expectation that GAR's EBITDA net leverage will remain around 3.0x-3.5x in the medium term, despite our assumption of a lower price for crude palm oil (CPO)....