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Research Update: PT Bakrie Telecom Tbk. Rating Lowered To 'CCC+' On Weak Liquidity; Outlook Negative Feb 12 Product Image

Research Update: PT Bakrie Telecom Tbk. Rating Lowered To 'CCC+' On Weak Liquidity; Outlook Negative Feb 12

  • Published: February 2012
  • Standard & Poors

Abstract
The operating performance of BTEL, an Indonesia-based limited mobility wireless operator, is likely to be weaker than we expected in 2012. Its weaker operating performance, covenant pressure, and upcoming debt maturities will weaken the company's liquidity, in our opinion. We are lowering the long-term corporate credit rating on BTEL to 'CCC+' from 'B'. We are also lowering the issue rating on the company's guaranteed notes to 'CCC+' from 'B'. The negative outlook reflects the uncertainty surrounding BTEL's use of any potential strategic measure to address its weak liquidity. On Feb. 9, 2012, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on Indonesia-based limited mobility wireless operator PT Bakrie Telecom Tbk. (BTEL) to 'CCC+' from 'B'. The outlook...

Companies mentioned in this report are: PT Bakrie Telecom Tbk.,Bakrie Telecom Pte. Ltd.
Action: Downgraded
Action: Outlook: Negative

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PT Bakrie Telecom Tbk.,Bakrie Telecom Pte. Ltd.

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