Moody's ups Excelcomindo view to positive

Moody's Investors Service said it affirmed PT Excelcomindo Pratama Tbk Ba2 local-currency issuer rating and changed the outlook to positive. Moody's also said it affirmed the company's Ba3 senior unsecured foreign-currency rating, which remains under review for upgrade in line with the rating review for Indonesia's country ceiling.

The positive outlook is in recognition of the company's ability to hold onto its market position despite the competitive nature of the industry and skill at executing a significant debt funded capital expenditure program while maintaining leverage and coverage ratios above its rating level, Moody's said.

The rating also factors in a capital expenditure plan in excess of $1.1 billion over the next three years, the agency added.

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