Standard Poors and Fitch Ratings Ltd.

Fitch Ratings Ltd.: Investors holding more than 25 percent of outstanding notes said in a complaint filed yesterday that the defendants failed to pay interest due in November and May and have no plans to do so while they negotiate with a handpicked steering committee to restructure the debt, according to Bloomberg. The companys debt was downgraded to default by Standard Poors and to a level signaling imminent default by Fitch Ratings Ltd. after failing to pay a $21.8 million coupon on a bond due in November and Bakrie Telecom Pte and affiliates were sued in New York state court by investors who claim the company breached its contract involving a $380 million bond issue. There is a high probability that defendants will exacerbate the default and fail to make the next payment due in November 2014, the investors said in the complaint. It was filed by Geneva-based Universal Investments Advisory SA, San Antonio-based mutual fund Vaquero Master EM Credit Fund Ltd., and Jersey-based Trucharm Ltd. The notes mature in May 2015. (news.financializer.com). As reported in the news.