Moody's rates Perusahaan Listrik Negara to Ba2

Moody's Investors Service said it upgraded to Ba2 from Ba3 the corporate family rating and senior unsecured bond rating of PT Perusahaan Listrik Negara.

This action follows the agency's decision to upgrade to Ba2 from Ba3 the Indonesian government's long-term foreign-currency and local-currency ratings.

The outlook is stable, consistent with the outlook on the government ratings.

Given the company's 100% ownership by the Ministry of State-Owned Enterprise, its role 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 said the rating should be closely linked to the government's credit quality.

© 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.