PT Pakuwon Jati Tbk. Upgraded To 'BB-' On Continuing Financial Prudence; Outlook Stable

Pakuwon Jati has maintained a conservative balance sheet with moderate debt, ample cash balance, and steady cash flows over the past two years. We expect the Indonesia-based real estate development and investment company to keep prudent financial policies as it expands over the next 24 months. We are raising our long-term corporate credit rating on Pakuwon Jati to 'BB-' from 'B+' and our long-term issue rating on the company's guaranteed senior unsecured notes to 'BB-' from 'B+'. At the same time, we are raising our ASEAN regional scale rating on the company to 'axBB+' from 'axBB'. The stable outlook reflects our expectation that Pakuwon Jati will conservatively manage its growth, and that project execution will remain satisfactory and support stable

...+ Pakuwon Jati has maintained a conservative balance sheet with moderate debt, ample cash balance, and steady cash flows over the past two years. + We expect the Indonesia-based real estate development and investment company to keep prudent financial policies as it expands over the next 24 months. + We are raising our long-term corporate credit rating on Pakuwon Jati to '##-' from 'B+' and our long-term issue rating on the company's guaranteed senior unsecured notes to '##-' from 'B+'. At the same time, we are raising our ASEAN regional scale rating on the company to 'axBB+' from 'axBB'. + The stable outlook reflects our expectation that Pakuwon Jati will conservatively manage its growth, and that project execution will remain satisfactory and support stable cash flow adequacy over the next 24 months. SINGAPORE (S&P Global Ratings) May 6, 2016--S&P Global Ratings said today that it had raised its long-term corporate credit rating on PT Pakuwon Jati Tbk. to '##-' from 'B+'. The outlook is...

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