Pakuwon Jati has a growing record of operating at moderate debt levels and adhering to its financial policies, in our view. We expect the company's project execution to remain satisfactory over the next 24 months and support sound cash flow adequacy ratios. We are therefore revising the outlook on the Indonesia-based real-estate development and investment company to positive from stable. We are affirming our 'B+' long-term corporate credit rating and our 'axBB' long-term ASEAN regional scale rating on PWON. We are also affirming our 'B+' long-term issue rating on the senior unsecured notes that the company guarantees. On June 30, 2015, Standard&Poor's Ratings Services revised its rating outlook on PT Pakuwon Jati Tbk. (PWON) to positive from stable.
