Moody's ups Media Nusantara

Moody's Investors Service said it upgraded the corporate family rating of PT Media Nusantara Citra from B1 to Ba3.

The outlook is stable.

"The rating action is driven by Media Nusantara's solid operating and financial performance, as evidenced by the company's low leverage of 0.5x and its strong cash flow generation," Moody's vice president and senior analyst Annalisa Di Chiara said in a news release.

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