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.

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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.

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APP seeks to cut costs and improve efficiency

Article Abstract:

Asia Pulp and Paper Co. (APP) is planning to reduce costs and improve its efficiency. As part those efforts, the company may divest some assets in Indonesia and China.

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