Fitch affirms Perusahaan Gas

Fitch Ratings said it affirmed PT Perusahaan Gas Negara's long-term foreign- and local-currency issuer default ratings at BBB- and its national long-term rating at AAA(idn).

The outlook is stable.

The ratings are constrained by the ratings of its 57% majority shareholder, the republic of Indonesia, Fitch said.

The ratings also reflect its dominant market position in natural gas distribution, resultant strong pricing power and its very strong financial profile, the agency said.

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