Moody's ups Telkom view to positive

Moody's Investors Service said it changed the outlook on PT Telekomunikasi Indonesia's (Telkom) local-currency corporate family rating to positive from stable, and affirmed its local-currency corporate family rating at Ba1.

The change in outlook is a function of continued high levels of growth in the Indonesian telecommunications sector, Moody's said. It also reflects the company's efforts to improve corporate governance, financial reporting and transparency, Moody's added.

Telkom had a sound financial profile and strong cash flow generation, the agency said.

Notwithstanding these positive factors, Moody's said, Telkom's ratings also acknowledge issues such as uncertainty surrounding Indonesia's political and economic environment.

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