The creditors have a plan
Article Abstract:
The Indonesian Bank Restructuring Agency and other creditors of Asia Pulp & Paper Co. (APP) are pushing the company to restructure itself. The goal of the restructuring is to make the company's management activities more transparent, and to recover $13.9 billion the company owes its creditors. However, the company is resisting. APP is the holding company for the pulp and paper assets of Sinar Mas Group.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 2003
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APP and its operating units are downgraded by S&P, Moody's
Article Abstract:
Asia Pulp and Paper Co. (ABB) has been downgraded by Moody's and S&P after the firm failed to pay two important interest payments worth US43 million (46 million euros). APP's credit rating was lowered from triple-C-plus to triple-C-minus by S&P, while Moody's lowered it to Caa3 from B3.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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- Abstracts: Sinar Mas seeks another loan. APP seeks to cut costs and improve efficiency. APP debt restructuring could take 2 to 3 years
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