S&P affirms Indosat

Standard & Poor's said it affirmed its BB- foreign currency rating on PT Indosat Tbk with a positive outlook and affirmed its BB local currency rating on Indosat with a stable outlook.

S&P said the rating affirmation reflects Indosat's continued solid market position in a rapidly growing cellular market, its moderate leverage and adequate cash flow protection.

These strengths, however, are offset by intensifying competition in most of its business segments, the agency said.

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