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Bulletin: PT Matahari Putra Prima Tbk. Ratings Unaffected Following Second-Quarter Results Sep 11
Standard & Poors, Sep 2011
Abstract
SINGAPORE (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services said today that its ratings on PT Matahari Putra Prima Tbk. (B+/Stable, axBB/--) are unaffected by the company's second-quarter results. The company's earnings before depreciation, amortization, and rent (EBITDAR) margin was 6.8% for the six months ended June 30, 2011, broadly in line with the 7% margin we anticipated. We expect a seasonal margin improvement in the third quarter to bring Matahari's operating performance within the 7%-8% EBITDAR margin range we expect for fiscal 2011. We still project sales of about Indonesian rupiah (IDR) 9.1 trillion for fiscal 2011 because the majority of Matahari's new store openings will take place in the third and fourth quarters of 2011. The...
Companies mentioned in this report are: PT Matahari Putra Prima Tbk.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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