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Fitch upgrades Aetra Air
Fitch Ratings said it upgraded PT Aetra Air Jakarta’s national long-term rating to A+(idn) from A(idn).
The agency also said it upgraded Aetra’s senior unsecured rupiah bonds due in 2015 to A+(idn) from A(idn).
The outlook is stable.
The ratings reflect expectations of low default risk relative to other issuers or obligations in the same country, Fitch said.
The upgrade is based on an expectation that Aetra will maintain a solid credit profile and cash generation, the agency said, and will gradually reduce its total indebtedness.
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