Fitch turns Aneka Gas view to positive

Fitch Ratings said it revised the outlook on Aneka Gas Industri's to positive from stable and affirmed the rating at A-(idn). The agency also affirmed Aneka Gas's outstanding bond and sukuk program and its outstanding bond and sukuk issuances.

“The revision in the outlook reflects our expectation that Aneka Gas's leverage will improve to below 3x by 2023, which is under the level at which Fitch would consider positive rating action. The company's acquisition of assets from Samator will support faster revenue growth, improve profitability as purchases from external parties are reduced and strengthen its market-leading position,” the agency said in a press release.

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