S&P ups Sampoerna to BB

Standard & Poor's said it raised its long-term local currency rating on PT Hanjaya Mandala Sampoerna Tbk to BB from B+ and affirmed its foreign currency rating at B+.

The outlook on the local currency is stable, while that on the foreign currency remains positive.

S&P said the ratings on Sampoerna reflect strong market position, adequate financial position and a degree of insulation from sovereign debt risks.

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