May 30, 2012 / 9:28 AM / 5 years ago

TEXT-S&P summary: PT Telekomunikasi Selular

(The following statement was released by the rating agency)

May 30 -

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Summary analysis -- PT Telekomunikasi Selular --------------------- 30-May-2012

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CREDIT RATING: BBB-/Stable/-- Country: Indonesia

Primary SIC: Communications

services, nec

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Credit Rating History:

Local currency Foreign currency

15-Mar-2010 BBB-/-- BBB-/--

12-Dec-2005 BB+/-- BB+/--

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Rationale

The rating on Indonesia-based wireless operator PT Telekomunikasi Selular (Telkomsel) reflects the company’s favorable market position, strong cash flow, and low debt. The country, macroeconomic, and transfer and convertibility (T&C) risk of Indonesia (BB+/Positive/B; axBBB+/axA-2) and the pressure on the company’s profit margin from high competition in Indonesia’s wireless market temper these strengths. Our ‘BBB-’ T&C assessment for Indonesia constrains the rating on Telkomsel.

Our Standards:The Thomson Reuters Trust Principles.
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