Moody's may up PT Perusahaan

Moody's Investors Service said it placed the B1 corporate family, senior unsecured bond and A1.id national scale ratings of PT Perusahaan Listrik Negara on review for upgrade. This rating action follows Moody's decision to place the Indonesian government's B1 rating on review for upgrade.

"Given PLN's 100% ownership by the Ministry of State-Owned Enterprises, its strategic importance as Indonesia's only vertically integrated electricity utility, as well as the ongoing government support through subsidies to ensure its financial viability and operational soundness, Moody's considers PLN's rating to be closely integrated with and strongly linked to the government's credit quality," Moody's lead analyst for the company, Jennifer Wong, said in a written statement.

"Accordingly, an upgrade in the rating of the Indonesian government will result in an upgrade in PLN's rating," Wong 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.