...+ We believe Japfa's strong operating performance will lead to lower leverage and higher cash flow adequacy in 2016, which should help the company's refinancing initiatives. + In addition, Japfa is taking appropriate steps to proactively address its 2017 and 2018 debt maturities, reducing near-term liquidity risks. + We are raising our long-term corporate credit rating on Japfa and our long-term issue rating on the company's guaranteed senior debts to 'B+' from 'B'. We are also raising our long-term ASEAN regional scale rating on the Indonesia-based integrated poultry producer to 'axBB' from 'axBB-'. + The stable outlook reflects Japfa's reduced refinancing risk and our view of more supportive industry conditions in the next 12 months. SINGAPORE (S&P Global Ratings) Nov. 10, 2016--S&P Global Ratings said today that it had raised its long-term corporate credit rating on PT Japfa Comfeed Indonesia Tbk. (Japfa) to 'B+' from 'B'. The outlook is stable. At the same time, we raised our long-term...
