S&P: Lippo Karawaci view to stable

Standard & Poor's said it revised the outlook on PT Lippo Karawaci Tbk to stable from negative, and affirmed its B long-term corporate credit rating and issue rating on its senior unsecured $250 million notes due 2011.

The stable outlook reflects the company's exhibited resilience to the economic slowdown in the second half of 2008 and in 2009, S&P said.

The company's credit protection measures did not deteriorate as the agency said it had expected.

The operating conditions in 2010 are expected to improve further, supported by the company's strategy of increasingly deriving revenue and cash flow from recurring stable business segments, S&P said.

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