Moody's: Perusahaan Gas outlook to positive

Moody's Investors Service said it changed the outlook to positive from stable of PT Perusahaan Gas Negara's Ba2 corporate family rating.

The outlook revision follows the agency's decision to change the Indonesian government's Ba2 long-term foreign-currency and local-currency ratings outlook to positive from stable.

The rating reflects the company's standalone credit strength and the credit support that its majority owner, the Indonesian government, is likely to provide it in a distress situation, Moody's said.

The rating also is underpinned by the company's solid operating profile, strong market position, favorable trends in gas demand and the relatively stable nature of the transmission and distribution business, the agency said.

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