Moody's rates Sentul City B2

Moody's Investors Service said it assigned a first-time B2 corporate family rating to Sentul City Tbk.

The outlook is stable.

The rating reflects the company's ownership of a large and low-cost land bank at its Sentul City, which is well positioned to benefit from infrastructure developments, Moody's explained.

That supports the company's marketing sales growth over the next 12- to 18-months, the agency said.

The ratings also consider Sentul City's limited track record and increased development and financing risks, which are partially mitigated by its joint-venture arrangements, Moody's said.

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