Fitch lifts Aneka Gas view to positive

Fitch Ratings said it revised the outlook on Aneka Gas Industri's national long-term rating to positive from stable and affirmed the rating at A-(idn).

The outlook revision reflects the company's de-leveraging plan, which could result in leverage declining to less than 3.5x, Fitch said.

Aneka Gas's financial profile is showing improvement, supported by capacity expansion, Fitch said, and its strong market position with high barriers to entry.

But the company has adopted an aggressive capital expenditure plan in the past and if the capital expenditure program diverges from the assumptions, this could result in the outlook reverting to stable, the agency said.

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