Tuesday, January 26, 2010

Fitch Upgrades 3 Indonesian telecommunication operators ratings

Fitch Ratings has today upgraded the Long-term foreign currency (LTFC) Issuer Default Ratings (IDRs) of PT Telekomunikasi Selular (Telkomsel) and PT Indosat Tbk (Indosat) to BBB- from BB+, as well as the LTFC IDR of PT Telekomunikasi Indonesia Tbk (Telkom) to BB+ from BB.
At the same time, Fitch has upgraded Telkomsel's Long-term local currency (LTLC) IDR to BBB' from 'BBB-. The Outlook on all ratings are Stable.
These positive rating actions follow Fitch's recent upgrades of Indonesia's Sovereign ratings, where the LTFC and LTLC IDRs were upgraded to BB+ from BB with a Stable Outlook. The Country Ceiling was also upgraded to BBB- from BB.

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