Fitch affirms Aetra Air Jakarta

Fitch Ratings said it affirmed PT Aetra Air Jakarta's national long-term rating at A(idn) and its senior bonds due in 2013 and 2015 at A(idn).

The outlook is stable.

"Aetra's ratings reflect its business profile as the exclusive piped water distributor in eastern Jakarta, its stable business operations and robust operational cash generation," Shahim Zubair, an associate director at Fitch, said in a statement.

Ratings remain constrained by Aetra's high capital expenditure on network expansions and renovations as well as some capacity additions, the agency said.

Ratings also factor in Aetra's dependence on the West Tarum channel for its raw water supply, the agency noted.

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