Moody’s upgrades Protelindo

Moody's Investors Service said it upgraded the corporate family rating for PT Profesional Telekomunikasi Indonesia Tbk. (Protelindo) to Ba1.

The outlook is stable.

"Protelindo's upgrade reflects the continued resilience in Protelindo's financial and credit profile, such that the company has the financial flexibility to make debt funded acquisitions and maintain its adjusted leverage at 3.0x-3.5x and its Ba1 rating," Moody's assistant vice president Nidhi Dhruv said in a news release.

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