Moody's confirms Sona Topas Tourism

Moody's Investors Service said it confirmed the A3.id national scale corporate family and bond ratings of PT Sona Topas Tourism Industry Tbk.

The outlook is stable.

This concludes a review that began in April.

The action follows the signing of the company's credit agreement with PT Bank CIMB Niaga Tbk upon authority approvals, Moody's said. This should effectively remove the refinancing risk for its Rp152 billion bonds maturing June 29, the agency said.

The stable outlook reflects an expectation that the company will maintain its leadership in the domestic duty-free market, thereby supporting the stability of its credit metrics, Moody's added.

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