Fitch Ratings-Jakarta/Singapore-25 January 2011: Fitch Ratings has today upgraded Indonesia-based PT Fajar Surya Wisesa Tbk’s (Fajar) Long-term foreign currency and local currency Issuer Default Ratings (IDRs) to ‘B+’ from ‘B’. At the same time, Fitch has upgraded Fajar’s National Long-term rating to ‘A(idn)’ from ‘A-(idn)’. The Outlooks on these Ratings are Stable. The senior unsecured rating of Fajar’s USD100m senior notes due in 2011 has also been upgraded to ‘B+’ from ‘B’; the recovery rating remains at ‘RR4’.
