S&P gives Excelcomindo Pratama notes BB-

Standard & Poor's said it assigned its BB- rating to PT Excelcomindo Pratama Tbk's proposed senior unsecured notes of up to $250 million.

According to S&P, rating risks include expected deterioration in capital structure, weakened competitive market position and significant foreign currency exposure in addition to increasing competition in the wireless market.

S&P said these factors are offset to some extent by possible financial support from parent company Telekom Malaysia Berhad (foreign currency A-/stable, local currency A/stable) and strong domestic wireless growth prospects.

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