S&P upgrades Protelindo

S&P said it raised its long-term issuer credit rating on PT Profesional Telekomunikasi Indonesia (Protelindo) to BBB from BBB-.

The agency affirmed the AA long-term issue rating on the company's senior unsecured notes.

The outlook is stable.

“We raised the rating on Protelindo to reflect the reduced operating risk for Indonesia's telecom sector owing to the country's strong economic growth prospects and stable government policies,” the agency said in a news release.

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