Moody's: Indofood stable

Moody's Investors Service said it changed the outlook for the B1 foreign currency rating of the $280 million eurobonds issued by Indofood International Finance Ltd. and guaranteed by PT Indofood Sukses Makmur Tbk to stable from negative.

Moody's said the change in outlook reflects the company's maintenance of its dominant position in Indonesia's instant noodle and flour markets, its relatively strong credit metrics and management's intention to lower leverage.

The B1 rating reflects Indofood's leading position in Indonesia's processed food market, according to Moody's.

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