S&P lowers view of four Indonesia entities to stable

Standard & Poor's said it revised the outlook to stable from positive and affirmed the global-scale ratings on four Indonesian entities following a similar action on the sovereign credit rating on the Republic of Indonesia.

PT Pertamina (Persero)'s foreign-currency corporate credit rating was affirmed at BB+, local-currency at BB+, Asean regional scale rating at axBBB+ and senior unsecured rating at BB+.

PT Perusahaan Gas Negara (Persero) Tbk.'s foreign-currency corporate credit rating was affirmed at BB+, local-currency rating at BB+ and Asean regional scale rating at axBBB+.

PT Bank Negara Indonesia (Persero) Tbk.'s issuer credit rating was affirmed at BB and subordinated debt rating at B+. The agency lowered its Asean regional scale rating to axBBB-from axBBB.

Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank)'s issuer credit rating was affirmed at BB+, Asean regional scale rating at axBBB+ and senior unsecured rating at BB+.

The outlook revision reflects the government's substantial influence on the group, S&P said.

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