Moody’s lifts Matahari Putra to Ba3

Moody's Investors Service said it upgraded PT Matahari Putra Prima Tbk.'s (MPPA) corporate family rating to Ba3 from B2.

The outlook is stable. This concludes its review for upgrade that began on June 17.

Moody’s said the upgrade reflects a reduction in Matahari’s adjusted debt due to changes in the agency’s approach for capitalizing operating leases.

"MPPA's Ba3 rating also considers the company's leading market position in the fast-moving consumer goods segment, its proven expansion capabilities, its continued strong operating performance and the company's commitment to a moderate dividend policy," Moody's assistant vice president and analyst Jacintha Poh said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.