The Indonesian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: September 2011
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: Outlook: Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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PT Bakrie Telecom Tbk.,Bakrie Telecom Pte. Ltd.
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