Fitch affirms Alam Sutera Realty

Fitch Ratings said it affirmed PT Alam Sutera Realty Tbk's long-term issuer default rating at B with stable outlook.

Fitch also affirmed the company’s senior unsecured debt rating at B with recovery rating of RR4.

“The affirmation reflects our view that the company's business and financial risk profiles remain unchanged, supported by stable leverage and strong presales in 2018,” the agency said in a news release.

Fitch also said it believes the rating reflects the company’s sizeable low-cost land bank, quality assets and established domestic franchise.

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