S&P rates Chandra Asri B+

Standard & Poor's said it assigned a B+ corporate credit rating to PT Chandra Asri.

The outlook is stable.

"The rating on Chandra Asri reflects the company's cyclical commodity chemicals business, exposure to rising feedstock costs, and limited product and operational diversity," S&P analyst Allan Redimerio said in a statement.

These risks are partially offset by the company's entrenched market position in Indonesia, favorable domestic demand, cost advantages from its domestic vertically integrated facilities and moderate leverage, the agency said.

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