S&P lowers Lippo Karawaci view to negative

Standard & Poor’s said it revised the outlook on PT Lippo Karawaci Tbk. to negative from stable.

The agency also said it affirmed the company’s BB- long-term corporate credit rating.

In line with the outlook revision, S&P also said it lowered the company’s Asean regional scale rating to axBB from axBB+.

S&P also affirmed its BB- long-term issue ratings on its outstanding notes.

The outlook revision reflects a forecast that the company’s cash-flow adequacy ratios and leverage could be weaker than previously anticipated over the next 12- to 18-months, the agency said.

The company also remains committed to further growth, especially in its health care segments, S&P said. This may require further external funding through 2016 and raising of debt, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.