S&P affirms Jababeka

S&P said it affirmed its B long-term issuer credit rating on PT Kawasan Industri Jababeka Tbk. The outlook is stable.

At the same time, the agency affirmed its B long-term issue rating on the company's guaranteed U.S. dollar-denominated senior unsecured notes.

“We affirmed the ratings on Jababeka because we believe the company has headroom in its financial ratios to absorb the negative effect of lower property sales over the next 12-18 months. We anticipate Jababeka can manage its liquidity over the next 12 months by controlling capital expenditure and cash outflows,” S&P said in a news release.

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