Moody's: Indosat unchanged

Moody's Investors Service said that PT Indosat Tbk.'s third-quarter 2009 results were below the agency's expectations.

The earnings announcement has no immediate impact on Indosat's Ba1 rating and stable outlook, but the agency said the results highlight a negative trend in the company's performance relative to its competitors.

The debt-to-EBITDA ratio worsened to 2.8 times on a trailing 12-month basis at the end of the third quarter from about 2.5 times for the second quarter, according to Moody's.

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