Research Update: PT Indosat Tbk. 'BB' Rating Placed On CreditWatch Positive On Proposed Tower Sales Feb 12
Standard & Poors, February 2012
Abstract
Indonesia-based telecom operator Indosat has agreed to sell towers to Tower Bersama for US$519 million. We expect the upfront cash proceeds of about US$350 million to improve Indosat's liquidity position. We are placing our 'BB' long-term corporate credit rating on Indosat and the 'BB' rating on the company's guaranteed notes on CreditWatch with positive implications. On Feb. 10, 2012, Standard & Poor's Ratings Services placed its 'BB' long-term corporate credit rating on Indonesia-based telecom operator PT Indosat Tbk. and the 'BB' rating on the company's guaranteed senior unsecured notes on CreditWatch with positive implications. At the same time, we placed the 'axBBB-' ASEAN scale long-term rating on Indosat on CreditWatch with positive implications. The CreditWatch action reflects our view that...
Companies mentioned in this report are: PT Indosat Tbk.,Indosat International Finance Co. B.V.,Indosat Palapa Company B.V.
Action: On CreditWatch:Positive
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.
PT Indosat Tbk.,Indosat International Finance Co. B.V.,Indosat Palapa Company B.V.
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