Moody's may up Telkom

Moody's Investors Service said it placed PT Telekomunikasi Indonesia's (Telkom) Ba1 local-currency corporate family rating under review for possible upgrade.

The review has been prompted by a continued improvement in Telkom's perceived efforts to improve standards of corporate governance, financial reporting and overall transparency, as well as a consolidation of its strong operating and financial profile, Moody's said.

Telkom dominates the fixed line market, and through Telkomsel, has a 56% share of cellular subscribers, the agency said. The company also enjoys a sound financial profile and strong cash flow generation, Moody's added.

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