In a research today, analysts Niken Indriarsih and Vonny Widjaja at Pefindo said that the upgrade was triggered by growing customers, earnings from cellular phone service and more stable financial leverage.
“The company’s rating was set at idAA+ and idAA+(sy), reflecting strong support of parent company as stated in the cross default provision in the debt of Qatar Telecom (Qtel Asia) Pte Ltd,” Niken wrote in the research.
Other factor supporting the rating upgrade is the solid demands on Indosat’s telecommunication services and stable market.
On the other hand, the rating upgrade was limited to aggressive capitalization structure and the tight competitiveness in telecommunication industry.
Upgrade on the company’s rating and prospect gave immediate impact to certain series of company’s bonds and sukuk worth as much as IDR8.1 trillion.
The company whose shares coded as ISAT is a provider of domestic telecommunication and information. The business covers cellular phone service, multimedia, internet, data communication (midi) and fixed-phone network.
As per June 2010, 65% of the company’s shares were held by Qtel. Other shareholders of the company were the government with 14.29% share, and the remaining 20.17% belongs to public. (t04/wiw)
Source : http://www.bisnis.com/en/corporate/1id213233.html - Oct 6, 2010
No comments:
Post a Comment