6 October 2010 - Indonesian rating agency pEFINDO has raised the outlook on Indonesian telecom operator pT Indosat Tbk (JAK:ISAT) to "stable" from "negative". The agency motivated the move with the recovery of the subscribers and cellular revenue growths and the steadier financial leverage of the company. The same action was applied also to the Indosat's Bonds II/2002, Bonds III/2003, Bonds IV/2005, Bonds V/2007, Bonds VI/2008 and Bonds VII/2009 aggregating IDR6.6trn (USD739.6m/EUR533.7m) as well as to its Syariah-Ijarah/2005, Sukuk Ijarah II/2007, Sukuk Ijarah III/2008 and Sukuk Ijarah IV/2009 totalling IDR1.5trn. "The ratings are maintained at idAA+ and idAA+(sy) which reflect the strong parent support as stated in cross default provision in QTEL's debt, continuing strong demand for telecommunication services, and the Company's stable market position. However, the ratings are offset by the Company's aggressive capital structure and intensified competition within the telecommunication industry," pEFINDO said.
-Ends- © press Release 2010
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