Fitch affirms PT Indosat

Fitch Ratings said it affirmed PT Indosat Tbk's long-term foreign- and local-currency issuer default ratings at BB+ and BBB-, respectively, along with its senior unsecured notes program at BB+.

The outlook is stable.

The ratings reflect its entrenched second position in the Indonesian telecommunications sector and its strategic importance to its parent, Qatar Telecom as its largest overseas investment, Fitch said.

The new management appears committed to a strategic transformation of Indosat with initiatives underway to redirect marketing efforts and improve network efficiencies, the agency added.

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