Asia Roundup
Fitch Revises Uzbekistanās Outlook to Positive; Affirms at āBBā
Fitch Ratings has revised the Outlook on Uzbekistanās Long-Term Issuer Default Rating (IDRs) to Positive from Stable and affirmed the IDRs at āBBā.
āThe Outlook revision reflects growing progress on reforms and policy focus on maintaining macro stability, which we expect will drive sustained strong GDP growth and improvements in macroeconomic indicators over the medium term, even amid an uncertain global backdrop,ā the rating agency said.
Jardine Seeks $1 Billion Loan to Buy Aussie Imaging Firm I-MED
Hong Kongās Jardine Matheson Holdings is seeking to raise an around A$1.5 billion ($1.1 billion) loan to fund its takeover of Australian medical diagnostic imaging provider I-MED Radiology Network, Bloomberg reported, citing people familiar with the matter.
Discussions for the five-year loan are in early stages and details could change. The financing could carry an interest margin in the low 100 basis points range over the benchmark Bank Bill Swap Yield, or BBSY.
Del Monte Pacific Submits $1.2 Billion Restructuring Plan After US Unitās Bankruptcy
Del Monte Pacific (DMPL) has outlined a framework to address the groupās debt obligations, The Business Times reported. The total debt perimeter subject to the restructuring is about USD 1.2 billion.
āDel Monte Pacificās stockholdersā equity is currently negative, arising from the impairment of approximately US$703.5 million recognised in FY2025 in connection with the performance and subsequent Chapter 11 bankruptcy of the companyās former US subsidiary, Del Monte Foods Holdings,ā the announcement read.
The company said its Philippine unit, Del Monte Philippines, āis not in financial distressā and continues to operate profitably. āThe difficulties are structural ā at the DMPL holding company level ā not operational.ā
Indonesia Roundup
Indonesian Wealth Fund Danantara Plans Dollar Bond Offering
Indonesian sovereign wealth fund Danantara has hired banks for a potential dollar bond sale, Bloomberg reported on 3 June 2026. The fund engaged Citigroup, DBS Bank, HSBC, Mandiri Securities and Standard Chartered Bank as joint lead managers and joint bookrunners to arrange the fixed income investor meetings and calls.
In the bond offering memorandum, Danantara said the āgovernment is not guaranteeingā any of its obligations in respect of the notes. Proceeds from the offering will be used for general corporate purposes, including investments and refinancing of outstanding borrowings.
The notes would be offered via Danantara Investment Management (DIM), the investment arm of the wealth fund.
Acrostics Asia wrote a day earlier:
š Indonesia Radar #2 (2 June 2026)
DIM spearheads Danantaraās fundraising activities, including the issuance of its patriot bonds and loan syndication. Two of the key DIM personnel are Djamal Attamimi, Managing Director of Finance, and Ali Setiawan, Managing Director of Treasury & Public Investment.
I wrote in July 2025 that in order to finance President Prabowo Subiantoās large-scale initiatives, Danantara would likely have to syndicate its loan to a wider group of banks and build a bridge to offshore bonds.
Indonesiaās Prabowo Fires Head of Free Meals Scheme Plagued by Poisonings
Indonesia's President Prabowo Subianto has fired the head of the agency responsible for his flagship free meals program, which has been plagued by mass food poisonings and corruption allegations, BBC reported.
The sacking of Dadan Hindayana, an entomologist, comes a week after Indonesia's corruption watchdog filed a complaint alleging inconsistencies in budgeting across kitchens.
Acrostics Asia is an independent credit intelligence provider that delivers forward-looking insights across Asian sovereigns, private credit and restructurings.