Pakuwon Jati's performance for the nine months ended Sept. 30, 2015, showed good resilience to a tougher operating environment, unlike many other domestic developers. We also expect the Indonesian real estate development and investment company to maintain moderate debt and a sound interest-servicing capacity over the next 12 months, thanks to stable rental income. We are affirming our 'B+' long-term corporate credit rating on Pakuwon Jati. We are also affirming our 'axBB' ASEAN scale rating and our 'B+' issue rating on the company's outstanding senior unsecured notes. The positive outlook reflects the prospects for a rating upgrade in the next six to 12 months if Pakuwon Jati strengthens its record of prudent financial management and control over leverage while rolling
