Moody's: Axiata view stable

Moody's Investors Service said it affirmed the issuer rating and senior unsecured bond rating for Axiata Group Bhd. at Baa2.

The outlook was changed to stable from positive.

"The change in outlook reflects Axiata's higher than expected capital expenditure plans and increased shareholder returns, at a time when its business is at an inflection point - revenue growth is slowing due to the saturating voice and SMS segment, and data usage is still to gain momentum and contribute effectively to Axiata's margins," Moody's analyst Nidhi Dhruv said in a news release.

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