Moody's may raise Excelcomindo Finance

Moody's Investors Service said it continues to review for possible upgrade the B2 foreign currency senior unsecured bond rating of Excelcomindo Finance Co. BV, a wholly owned subsidiary of P.T. Excelcomindo Pratama (Excelcomindo).

The outcome of Excelcomindo's foreign currency bond rating will be driven by (a) Moody's assessment of the company's fundamental rating on a local currency basis and (b) the consideration of Friday's outlook change for Indonesia's B2 foreign currency sovereign ceiling to positive from stable.

P.T. Excelcomindo Pratama, based in Jakarta, Indonesia, provides cellular services in that country. It commanded a market share of 15% at end-September 2004 with 4.2 million subscribers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.