Moody's rates Perusahaan Listrik bond A1.id

Moody's Investors Service said it assigned an A1.id national scale issuer rating to PT Perusahaan Listrik Negara, and an A1.id senior unsecured rating to the company's proposed Rp2.7 trillion bond and Rp300 billion syariah ijarah bond.

Moody's also affirmed the company's B1 corporate family rating.

The outlook is positive, in line with the sovereign's positive outlook.

The ratings take into account the company's stand-alone credit quality, and the high likelihood of the Indonesian government providing the company with credit support in a stress situation, Moody's said.

The ratings also take into account the company's modest stand-alone credit metrics due to the large gap between average sales prices and cost of supply, particularly in light of rising fuel expenses, the agency said.

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