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Moody's ups MGTI bond to Ba2
Moody's Investors Service said it upgraded MGTI Finance Co. Ltd.'s senior secured foreign-currency bond rating to Ba2 from Ba3. The bond is guaranteed by PT Mitra Global Telekomunikasi Indonesia (MGTI) and MGTI Finance BV.
Moody's also said it affirmed its Ba1 local-currency corporate family rating with stable outlook.
This action follows Moody's decision to upgrade Indonesia's Ba3 foreign-currency sovereign ceiling to Ba2. The rating outlook is stable, consistent with the outlook on the country foreign-currency ceiling.
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