INDONESIA - RATINGS - Bakrieland Development Tbk. downgrade

www.pefindo.com - PEFINDO lowered its ratings on PT Bakrieland Development Tbk. (ELTY or the Company) and the Company’s Bond I/2008 to “idBBB” from “idBBB+”. PEFINDO also lowered the rating of the Company’s Sukuk Ijarah I/2009 Serie B to “idBBB(sy)” from “idBBB+(sy)”.

The downgrade was attributable to the Company’s weakening cash flow protection ratios. In 2011, the Company’s EBITDA to debt ratio and EBITDA to interest (including capitalized interest) ratio were 0.1x and 0.9x, respectively. (source)

INDONESIA - CAPITAL MARKETS - Ready to Pay Installment Bakrieland Sukuk

RELITRADE.COM - The Company has prepared the repayment funds in return Sukuk Ijarah I Bakrieland Development of 2009 Series B Rp3, 6 billion.

Installment is paid is that all nine of the Series B bonds worth Rp90 billion, with 16.00 percent interest rate.

The funds will be transferred to the paying agent, namely PT Indonesia Central Securities Depository no later than the 6th of October. (IF) (source)

RATINGS - Bakrieland Sukuk Ijarah Affirmed at BBB+ Rating

The indonesiatoday.com - indonesia credit rating Pefindo affirmed its "BBB+" rating on property developer PT Bakrieland Development Tbk's (ELTY) Sukuk Ijarah I-A series year 2009 amounting to Rp60 billion that will mature on July 7, 2011. (full story)

CAPITAL MARKETS - SUKUK - Profit share Bakrieland Development, ELTY, sukuk ijarah

On Oct 5, 2010 it was announced that the I ELTY Siapkan Sukuk Ijarah would pay a profit share of Rp 5.99 billion over the year 2009 and that the proceeds would be available at Pt Kustodian Effek Sentral Indonesia KSEI at Oct 06, 2010.