Fitch: Perusahaan positive

Fitch Ratings has affirmed PT Perusahaan Gas Negara's long-term foreign- and local-currency issuer default ratings at BB+ and revised the outlook on those ratings to positive from stable.

The agency also upgraded the company's national long-term rating to AAA(idn) from AA+(idn). The outlook is stable.

These actions follow a review of the company's operating and financial profiles, including the impact from a potential significant increase to its gas purchase costs, Fitch said.

The ratings reflect its dominant position in Indonesia's gas distribution sector and positive domestic demand dynamics, the agency said.

The company has maintained a strong financial profile for its ratings with strong free cash generation, low financial leverage and solid liquidity, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.