S&P ups Telkomsel to BB

Standard & Poor's said it raised its local currency long-term rating on PT Telekomunikasi Selular to BB from B+. The outlook is stable.

At the same time, S&P affirmed its B+ foreign currency rating on Telkomsel. The outlook is positive.

S&P said the ratings on Telkomsel reflect strong domestic wireless growth prospects, leading market position in Indonesia, low leverage and strong cash flow protection measures and a degree of insulation from sovereign debt risks.

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