Moody's affirms Pakuwon Jati

Moody's said it affirmed the Ba3 corporate family rating of Pakuwon Jati, Tbk. and affirmed the Ba3 senior unsecured rating of the bonds issued by Pakuwon Prima Pte. Ltd. – guaranteed by and a wholly owned subsidiary of Pakuwon Jati.

The outlook is stable.

“The ratings affirmation reflects Pakuwon Jati's healthy operating performance and financial profile, supported by its well-balanced portfolio of development and investment properties,” says Jacintha Poh, a Moody's vice president and senior analyst, in a news release.

“Its investment properties portfolio comprising mostly retail malls provides a stable and recurring income, mitigating cash flows volatility from its cyclical property development business,” said Poh, who is also Moody's lead analyst for Pakuwon Jati.

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