Moody’s alters Pelindo III view to positive

Moody’s Investors Service said it revised the outlook to positive from stable and affirmed Pelabuhan Indonesia II (Persero)’s, now known as PT Pelabuhan Indonesia (Persero) (Pelindo), Baa3 issuer and senior unsecured bond ratings, including senior unsecured bond ratings transferred from Pelabuhan Indonesia III (Persero).

Moody's also withdrew Pelabuhan Indonesia III (Persero)'s Baa3 issuer rating and stable outlook because the entity has merged into Pelindo and does not exist as a stand-alone entity post-merger.

"The outlook change reflects Pelindo's strengthened business profile and increasing strategic importance following its merger, with a larger scale of business and stronger competitive market position as a dominant port operator in Indonesia," said Yong Kang, a Moody's analyst, in a press release.

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