S&P lifts seven Indonesian companies

S&P said it raised the long-term corporate credit ratings on seven Indonesian companies following a similar action on the sovereign credit rating on Indonesia (BBB-/stable/A-3; axA-/axA-2).

The agency upgraded the long-term Asean regional scale rating on four companies. It also raised the issue ratings on the outstanding notes issued by the following entities to BBB- from BB+: PT Pertamina (Persero); PT Pelabuhan Indonesia II (Persero); PT Pelabuhan Indonesia III (Persero); PT Perusahaan Gas Negara (Persero) Tbk.; and the issue ratings on the outstanding notes issued by PT Saka Energi Indonesia to BB+ from BB.

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