Moody’s ups United Tractors to Baa2

Moody's Investors Service said it upgraded PT United Tractors Tbk.’s issuer rating to Baa2 from Baa3.

The outlook is stable.

"The upgrade of United Tractors' issuer rating to Baa2 from Baa3 introduces one notch of uplift to the company's standalone rating, based on our assessment of a very high likelihood of support from its parent, Astra International, in times of need," Moody's vice president and senior credit officer Brian Grieser said in a news release.

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