Fitch: No changes for Telkomsel, Indosat

Fitch Ratings said the ruling issued by Indonesia's competition authority requiring Temasek Holdings Pte Ltd., to sell its indirect stake in either PT Telekomunikasi Selular (Telkomsel, foreign-currency issuer default rating BB/stable; local-currency issuer default rating BBB-/stable) or PT Indosat Tbk (foreign- and local-currency issuer default rating BB-/stable) within two years is unlikely to have any near-term effect on credit ratings.

The agency also said the ratings of Singapore Telecommunications Ltd. (Singtel, foreign-currency issuer default rating A/stable), which is 56.1% owned by Temasek, and which in turn holds a 35% stake in Telkomsel, will be unaffected in the near term.

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