Fitch: Mayora Indah AA(idn)

Fitch Ratings said it assigned a first-time national long-term rating of AA(idn) to PT Mayora Indah Tbk.

The outlook is stable.

Mayora's rating underpins its leading market position, strong brands, diversified revenue base, low leverage, solid liquidity and cash flow generation, Fitch said.

These factors help offset Mayora's smaller EBITDA scale against similarly rated peers, the agency said.

The rating also reflects the company's exposure to raw material price fluctuations, which affects its profitability, Fitch said.

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