Moody's rates Excelcomindo Pratama bonds B1

Moody's Investors Service said it assigned a B1 foreign currency senior unsecured rating to the proposed $250 million seven-year bonds of Excelcomindo Finance Company BV.

The outlook is positive.

Moody's said the bonds will be irrevocably and unconditionally guaranteed by PT Excelcomindo Pratama Tbk.

At the same time, Moody's said it has affirmed the company's Ba2 local currency corporate family rating. The outlook is stable.

The agency said the ratings continue to reflect the application of Moody's new rating methodology for government-related issuers based on a combination of the company's baseline credit assessment of 6, the A2 foreign currency rating of Telekom Malaysia Berhad (TMB), medium dependence and medium support.

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