Moody's ups Pakuwon Jati CFR

Moody's Investors Service said it upgraded the corporate family rating of PT Pakuwon Jati Tbk. to B1 from B2.

The outlook is stable.

"The upgrade reflects the strong performance of Pakuwon's integrated developments consisting of condominiums, retail malls, office towers and hotel over the last three years as well as a significant growth in the company's recurring income base," Moody's analyst Jacintha Poh said in a news release.

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