Fitch ups Telkomsel notes to B+

Fitch Ratings said it has upgraded PT Telekomunikasi Selular's (Telkomsel) senior unsecured foreign currency rating to B+ from B and the rating on the $150 million of notes issued by Telekomunikasi Selular Finance Ltd. to B+ from B. The notes are irrevocably and unconditionally guaranteed by Telkomsel.

Fitch said it also has affirmed the senior unsecured local currency rating of Telkomsel at BB-.

The outlook remains stable.

This rating action follows Fitch's recent decision to upgrade the rating of the Republic of Indonesia to B+ from B. Telkomsel's rating is capped by the rating of the Republic.

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