Moody's: Excelcomindo view stable

Moody's Investors Service said it affirmed PT Excelcomindo Pratama Tbk's local-currency issuer rating at Ba2, senior unsecured foreign-currency rating at Ba2 and the company's national scale rating of Aa1.id.

The outlook was changed to stable from positive.

The change in outlook reflects the improving standalone credit fundamentals and an assessment of a lower level of support provided by Telekom Malaysia International Bhd, following its de-merger from Telekom Malaysia, Moody's said.

The company's improving underlying credit strength is underpinned by its ability to gain market share despite the highly competitive environment and continued solid growth in the country's under-penetrated cellular market, the agency said.

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