Summary: PT Lippo Karawaci Tbk. Mar 12
- ID: 2083282
- March 2012
- Standard & Poors
The rating on Indonesia-based property developer PT Lippo Karawaci Tbk. (Lippo Karawaci) reflects the company's aggressive capital expenditure plans and exposure to volatile cash flows from the cyclical property development business. The company's dominant position in the domestic property market and its strong financial flexibility in respect of good access to equity and capital markets temper the above weaknesses. The rating also reflects our assessment that Lippo Karawaci has a "fair" business risk profile and "aggressive" financial risk profile. The business risk assessment captures the company's diversified business segments with operating performances that are counter-cyclical to each other. Our financial risk assessment incorporates the recent improvement in Lippo Karawaci's performance and credit metrics. It also factors in the company's aggressive...
Companies mentioned in this report are: PT Lippo Karawaci Tbk.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >