Fitch rates Waskita Beton BBB+(idn)

Fitch Ratings said it published a national long-term rating of BBB+(idn) on PT Waskita Beton Precast Tbk.

The outlook is negative.

The agency also published a BBB+(idn) national rating on Waskita Beton's Rp 2 trillion bond program and the proposed Rp 500 billion bond to be issued under the program.

The company's standalone credit profile of BBB(idn) is driven by liquidity and profitability that are highly dependent on its parent, PT Waskita Karya (Persero) Tbk., Fitch explained.

The negative outlook on Waskita Beton is in line with the outlook on Waskita Karya, the agency said.

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