S&P elevates Lippo Karawaci

S&P said it raised its long-term issuer credit rating on PT Lippo Karawaci Tbk. (Lippo) to B- from CCC+ and raised the long-term issue ratings on the company's outstanding guaranteed senior unsecured notes to B- from CCC+.

At the same time, the agency removed the ratings from CreditWatch, where they were placed with positive implications on March 14.

The outlook is stable.

“The upgrade reflects significant improvement in Lippo's holdco liquidity post the successful completion of the rights issuance,” S&P said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.