Moody's: Lippo Karawaci outlook stable

Moody's Investors Service said it changed to stable from negative the outlook for PT Lippo Karawaci Tbk's B1 corporate family rating and A2.id national scale rating and for Lippo Karawaci Finance BV's B1 senior unsecured bond rating.

The agency said that although the strategy of lease mall development has yet to be proven, this concern is partly alleviated by the view that Lippo Karawaci's strengthened balance sheet liquidity could provide it with the financial buffer to withstand the development and market uncertainties. The outlook changes also reflect Moody's expectation of an improvement in Lippo Karawaci's operating performance in the coming two to three years underpinned by strong presale of core property projects.

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