Moody's may up Sampoerna

Moody's Investors Service said it placed on review for possible upgrade the B2 foreign currency rating for the senior unsecured notes issued by Sampoerna International Finance Co BV and guaranteed by PT Hanjaya Mandala Sampoerna.

Moody's said this rating review is prompted by Sampoerna's improving credit profiles, based on its leading position in Indonesia's premium clove cigarette market, its solid financial profile and free cash flow generating ability and declining level of foreign-exchange exposures.

Moody's said Sampoerna has demonstrated its ability to circumvent the challenges of the excise tax hike in the previous years and recorded strong recovery.

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