Moody's assigns first-time B2 ratings to Intiland Development; outlook stable
Moody's Investors Service has assigned a first-time B2 corporate family rating (CFR) to Intiland Development Tbk (P.T.). At the same time, Moody's has assigned a B2 senior unsecured rating to the company's proposed US dollar bond issuance. The proposed bonds are unconditionally and irre...PT Intiland Development Tbk is an Indonesia-based property development company primarily engaged in the development of residential estates, mixed-use estates and high-rise residential buildings. Its business is classified into five divisions: real estate development, commercial property rental, industrial estate management, hotel operation and sport facilities operation. Its real estate development division is engaged in developing residential estates, including Serenia Hills, Pinang Residence and Talaga Bestari; mixed-use estates, including South Quarter and Graha Festival, as well as high-rise residential buildings, including 1Park Residences, Regatta and Sumatra 36. The commercial properties it rents out include Intiland Tower and Graha Pratama. It also manages Ngoro Industrial Park, an industrial estate located in Mojokerto, Indonesia. Through its subsidiary, PT Intiwhiz International, it operates its hotels under the brand name Whiz Hotel, Whiz Prime Hotel and Grand Whiz Hotel.
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