Fitch trims Waskita Beton

Fitch Ratings said it downgraded PT Waskita Beton Precast Tbk.'s national long-term rating to BB(idn) from BBB-(idn), with a negative outlook.

At the same time, Fitch downgraded the issuer’s bond program and the bonds issued under the program to BB(idn) from BBB-(idn).

The downgrade and the negative outlook follows similar rating action on parent, PT Waskita Karya (Persero) Tbk., after Fitch lowered the parent's standalone credit profile to bb(idn) from bbb-(idn) on a weakening financial profile, the agency said.

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