S&P affirms Excelcomindo

Standard & Poor's said it affirmed its B+ long-term corporate credit rating PT Excelcomindo Pratama.

The outlook is stable.

The affirmation reflects the strong growth prospects of the Indonesian wireless market and likely support from its prospective parent company, S&P said.

The agency said these strengths are, however, offset by Excelcomindo's highly aggressive capital structure, weakened competitive market position and significant foreign currency exposure.

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