S&P stabilizes view on three Indonesian issuers

S&P said it revised the outlook on three Indonesian companies to stable from negative following a similar rating action on Indonesia. The companies are PT Pertamina (Persero), Perusahaan Listrik Negara (PLN) and PT Astra International Tbk.

In a press release, the agency said the issuers “benefit from ongoing and almost certain extraordinary government support.”

Additionally, S&P said it affirmed the issuer and issuer ratings for Pertamina and PLN. It also affirmed the issue credit ratings for PT Astra, which are higher than Indonesia’s ratings.

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