Jakarta, Oct 11 (ANTARA) - Credit rating agency PT Pemeringkat Efek Indonesia (Pefindo) has assigned its AA+ ratings to state telecommunications operator PT Indosat Tbk.
The outlook of the ratings is stable, a Pefindo analyst said in a press release issued on Tuesday.
The ratings also apply to Indosat bonds II of 2002, bonds V of 2007, bonds VI of 2008 and bonds VII of 2009 as well as sukuk ijarah II of 2007, sukuk ijarah III of 2008 and sukuk ijarah IV of 2009.
The Pefindo analyst said the ratings reflected strong support from the company's majority shareholders, strong market position and improving operational performance.
Yet the ratings were restricted by the company's aggressive capital structure and tight competition among telecommunications operators.
Indosat is one of the country's leading providers of telecommunication and information services covering cellular business, multimedia, internet, data communication and fixed line services.
As per June 30, 2011, Indosat was 65 percent owned by Qatar Telecom Pte Ltd, 14.3 percent by the Indonesian government, 5.6 percent by SKAGEN Funds and 15.1 percent by the public.
Next year the company is expected to spend Rp650 billion, about the same as last year's, on capital expenditures.
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