Moody’s: Semen Indonesia Baa3

Moody’s Investors Service said it assigned an issuer rating of Baa3 to Semen Indonesia (Persero) Tbk.

The outlook is stable.

This is the first time Moody’s said it assigned an investment-grade rating to Semen Indonesia.

The upgrade reflects Semen Indonesia’s demonstrated commitment to conservative financial policies and a solid liquidity profile, Moody’s said.

The ratings also consider its leading and defensible position in a growing Indonesian cement industry, the agency said.

While cement consumption has grown substantially over the past decade in Indonesia, the residential, commercial and infrastructure construction sectors of the economy are generally cyclical in nature, Moody’s added.

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