Fitch upgrades Sarana Multigriya

Fitch Ratings Indonesia said it upgraded PT Sarana Multigriya Finansial (Persero)'s national long-term rating to AAA(idn) from AA+(idn) and removed it from rating watch positive.

The outlook is stable.

The national short-term rating was affirmed at F1+(idn).

The national long-term rating was put on positive watch in December 2017 after the release of Fitch's exposure draft on the criteria for government-related entities (GRE).

Fitch said the upgrade reflects its reassessment of government support for Sarana Multigriya and the strength of the linkage on a national scale, following the publication of our Government-Related Entities Rating Criteria on Feb. 7.

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