Fitch revises Sinar Mas view to stable

Fitch Ratings said it revised PT Sinar Mas Multifinance's national long-term outlook to stable from negative and affirmed the rating at BBB+(idn). The agency also affirmed the company's senior bond program and tranches issued under the program at BBB+(idn).

“The outlook revision to stable reflects our belief of lower downside risks relating to the financial profile of parent PT Sinar Mas Multiartha Tbk. (SMMA) from that previously factored into SMMF's credit profile. The revision mirrors the rating action taken in January 2021 on sister company PT Bank Sinarmas Tbk., whose stand-alone credit profile contributes to our assessment of SMMA's credit profile,” Fitch said in a press release.

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