Moody's may upgrade Lippo Karawaci bonds

Moody's Investors Service said it placed the B2 foreign currency senior unsecured bond rating of Lippo Karawaci Finance BV (guaranteed by PT Lippo Karawaci Tbk) under review for possible upgrade following the placement of Indonesia's B2 foreign currency bond rating on review for possible upgrade.

Lippo Karawaci Tbk's B1 local currency corporate family rating was affirmed with stable outlook.

Lippo Karawaci is one of the largest property developers in Indonesia with a market capitalization of over $550 million, the agency said.

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