Moody's assigned a Baa2 issuer rating to Danantara Investment Management on Wednesday, according to a same-day release by the ratings agency.
The rating is aligned with the Baa2 sovereign rating of the Indonesian government.
The company's senior unsecured global medium-term note program was also given a provisional (P)Baa2 rating.
The outlook on all ratings is negative.
Chinese shares declined on Thursday as the U.S. proposes additional tariffs on 60 countries, including China.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 0.6% to 4,057.78. The Shenzhen Component Index went down 0.3% to 15,661.57.The administration of U.S. President Donald Trump proposed new tariffs on imports from 60 countries, citing their failure to curb trade in goods made with forced labor.The U.S. Trade Representative proposed 10% additional duties on imports from 15 economies, including the European Union and the U.K. Meanwhile, 45 countries including China would face additional duties of 12.5%.In response, China denied the presence of forced labor in the country, slamming the U.S. for using probes on the issue as a pretext for additional tariffs."There is no such thing as 'forced labor' in China, and we oppose using this as a pretext for political manipulation," said Beijing's Foreign Ministry Spokesperson Mao Ning.In company news, Shenzhen InfoGem Technologies (SHE:300085) denied online rumors that the company is under investigation. Shares of the financial technology company closed 5% lower Thursday.
Bharat Heavy Electricals (NSE:BHEL, BOM:500103) has bagged an order worth between 20 billion Indian rupees and 25 billion rupees from Nigeria's Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise, according to a Thursday filing to the Indian stock exchanges.The contract is for the design, manufacturing, supply, and supervision of the erection and commissioning of eight units of gas turbine generator packages for their petroleum refinery and polypropylene plant in the Dangote Industries Free Zone of Nigeria. The order excludes civil work.The project is expected to be completed in 26 months.
Beijing-Shanghai High-Speed Railway's (SHA:601816) chairman, Liu Hongrun, resigned due to work reassignment, according to a Shanghai bourse filing on Thursday.Li Jingwei, the company's vice chairman, will assume the duties of chairman until Liu's successor is named.The railway operating company's shares fell 2% at the close.