Moody's: Perusahaan Listrik view positive

Moody's Investors Service said it changed the outlook to positive from stable on PT Perusahaan Listrik Negara's Ba3 corporate family and senior unsecured bond ratings, along with the outlook on its Aa2.id national scale rating. The action follows Moody's decision to change the Indonesian government's Ba3 long-term foreign-currency and local-currency ratings outlook to positive from stable.

Because of the company's strategic importance as Indonesia's only vertically-integrated electricity utility, the government subsidizes it to ensure its financial viability and operational soundness, Moody's said.

Therefore, its ratings are closely integrated with, and strongly linked to, the government's credit quality, Moody's said.

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