Moody's confirms Indosat

Moody's Investors Service said it confirmed the Ba1 local-currency corporate family rating of PT Indosat Tbk and the Ba2 foreign-currency senior unsecured bond rating of Indosat Finance Co. BV and Indosat International Finance Co. BV.

The outlook is stable.

This concludes a review that began in June when Singapore Technologies Telemedia, a wholly owned unit of Singapore government's investment firm, Temasek Holdings, sold its 40.8% interest in Indosat to Qatar Telecom for $1.8 billion.

The confirmation reflects Qatar Telecom's ability and willingness to support Indosat in a distress situation, Moody's said, as well as an expectation that the change in shareholding structure will not have a material impact on Indosat's existing business strategies and financial policies.

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