Moody's rates MNC Sky Vision notes B2

Moody's Investors Service said it assigned a first-time B2 corporate family rating to PT MNC Sky Vision and a provisional B2 rating to its proposed dollar-denominated notes offering.

The outlook is stable.

The proceeds will contribute to the acquisition of S-Band satellite transponders from SES S.A. for $95 million, the agency said, and the refinancing of existing indebtedness.

Moody's said it expects to affirm the senior unsecured rating and remove it from provisional status following the closing of the issuance and a review of the final terms and conditions.

The rating is supported by its dominant share in the Indonesian pay-TV market, premised upon its premium product offering and its command of Indonesia's largest domestic in-house distribution network, Moody's said.

This situation favorably positions the company for robust organic growth over the medium to long term, the agency said.

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