Fitch lifts two Indonesian GREs

Fitch Ratings said it upgraded the long-term foreign- and local-currency issuer default ratings on PT Penjaminan Infrastruktur Indonesia (Persero) and Sarana Multi Infrastruktur (Persero) to BBB from BBB- and the short-term foreign-currency issuer default ratings to F2 from F3.

The outlooks are stable.

The actions follow the Dec. 20 upgrade of Indonesia's long-term issuer default rating to BBB from BBB- and short-term issuer default rating to F2 from F3.

“The ratings on Penjaminan Infrastruktur Indonesia and Sarana Multi Infrastruktur are credit-linked to and equalised with those of their sponsor, the Indonesian sovereign, in line with Fitch's ‘Rating of Public Sector Entities – Outside the United States’ criteria,” the agency said in a news release.

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