Moody's ups MGTI Finance

Moody's Investors Service said it upgraded MGTI Finance Co. Ltd.'s senior secured foreign-currency bond rating to Ba1 from Ba2. The bond is guaranteed by PT Mitra Global Telekomunikasi Indonesia and MGTI Finance BV. Moody's also said it affirmed the Ba1 local-currency corporate family rating of MGTI with a stable outlook.

This action follows Moody's decision to upgrade Indonesia's Ba2 foreign-currency sovereign ceiling to Ba1.

The outlook is stable, consistent with the outlook on MGTI and on the country foreign-currency ceiling, the agency said.

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