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Fitch rates PP Properti BBB+(idn)
Fitch Ratings said it assigned a national long-term rating of BBB+(idn) to PT PP Properti Tbk., along with a national senior unsecured rating of BBB+(idn).
The national long-term rating is based on the company's standalone rating of BBB(idn), which reflects its good track record in high-rise development with projects in strategic locations, Fitch said.
This is counterbalanced by its smaller scale compared with peers, the agency explained.
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