S&P rates Protelindo BB

Standard & Poor's said it assigned a BB long-term corporate credit rating to PT Profesional Telekomunikasi Indonesia (Protelindo).

The outlook is stable.

The agency also said it assigned an axBBB- Asean regional scale rating to the company.

The rating reflects an expectation that the company's leverage will remain high, S&P said.

The rating also considers the weak market position of the company's key customer, PT Hutchison CP Telecommunications, the agency said.

Protelindo's strong operating efficiency, stable cash flow and strong margins from long-term tower leases and good market position temper these weaknesses, S&P said.

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