Moody's affirms Media Nusantara Citra

Moody's Investors Service said it affirmed Indonesia-based PT Media Nusantara Citra's provisional B1 corporate family and bond ratings following the company's announcement that it will reduce its upcoming bond issuance by up to $182 million from the initial proposed $230 million.

The outlook is stable.

Moody's said the downsizing will moderately improve interest and leverage metrics, but not sufficiently to change the rating.

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