SINGAPORE (Standard&Poor's) July 17, 2014--Standard&Poor's Ratings Services said today that its ratings on PT Pakuwon Jati Tbk. (Pakuwon Jati: B+/Stable/--; axBB/--) and the company's U.S.-dollar-denominated senior unsecured notes are unaffected by a proposed retap. We do not expect this transaction to significantly increase the company's debt. Pakuwon Jati intends to add about US$30 million to its US$168 million 7.125% notes due March 2019, with the same terms and conditions. We had assigned our 'B+' long-term issue rating to the notes on June 19, 2014. We expect the company to use the proceeds for acquisitions and/or working capital purposes. The corporate credit rating on Pakuwon Jati reflects the company's untested financial discipline, execution risks stemming from rapid
