Moody's ups Excelcomindo bond to Ba2

Moody's Investors Service said it upgraded Excelcomindo Finance Co. BV's foreign-currency senior unsecured bond rating to Ba2 from Ba3. The bond is guaranteed by PT Excelcomindo Pratama.

Moody's also said it affirmed its Ba2 local-currency corporate family rating with positive outlook.

This action follows Moody's decision to upgrade Indonesia's Ba3 foreign-currency sovereign ceiling to Ba2. The rating outlook is stable, consistent with the outlook on the country foreign-currency ceiling.

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