Moody's may up Perusahaan Gas Negara

Moody's Investors Service said it placed the B1 foreign currency debt rating of PGN Euro Finance 2003 Ltd. and guaranteed by PT Perusahaan Gas Negara (PGN) on review for possible upgrade.

The agency said the rating action follows its decision to place Indonesia's B2 foreign currency sovereign rating for bonds on review for possible upgrade.

At the same time, Moody's said it has affirmed the Ba2 corporate family rating of PGN. The outlook is stable.

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