Fitch: Protelindo to positive

Fitch Ratings said it affirmed PT Profesional Telekomunikasi Indonesia's (Protelindo) long-term foreign-currency issuer default rating at BB.

The outlook also was revised to positive from stable.

The agency also said it affirmed Protelindo's national long-term rating, national senior unsecured rating and the rating on its Rp 1 trillion senior unsecured bond at AA-(idn).

The ratings reflect expectations of very low default risk relative to other issuers or obligations in the same country, Fitch said.

The outlook revision considers an expectation that Protelindo will be able to gradually improve its tenancy mix while maintaining FFO-adjusted net leverage below 3.5x, the agency said.

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