Moody’s: Alam Sutera view to negative

Moody's Investors Service said it affirmed the B1 corporate family rating of Alam Sutera Realty Tbk. and the B1 senior unsecured bond ratings of Alam Synergy Pte. Ltd.

The outlook on all ratings was changed to negative.

Moody’s said the change in outlook reflects Alam Sutera's laggard operating performance that has resulted in a gradual weakening of its financial metrics, which were also exacerbated by the rupiah depreciation. Nonetheless, the B1 ratings reflect its successful execution track record at its Alam Sutera township and its ownership of a large and low cost land bank had allowed it to generate strong gross profit margins of above 50%, the agency said.

© 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.