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Moody's revises BUMA view to negative
Moody's Investors Service said it affirmed Bukit Makmur Mandiri Utama (PT)'s (BUMA) Ba3 corporate family rating and the Ba3 rating on its senior secured notes and revised the outlook to negative from stable.
"The change in BUMA's outlook to negative from stable reflects our expectations that amid an already challenging operating environment, BUMA's credit metrics and liquidity will weaken further following the loss of a key customer," said Maisam Hasnain, a Moody's assistant vice president and analyst, in a press release.
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