TEMPO Interactive, Jakarta: PT Kasnic Credit Rating Indonesia will change its name to PT Moody's Indonesia. It was done after Moody's Corporation acquired 99 percent of shares of Kasnic of PT HT Capital and other local investors.
Raymond W. McDaniel Jr, Executive Director of Moody's Corporation, said in a press conference that Moody's believed the request to Moody's rating services will rapidly increase in the upcoming years in line with the increase of investment and the development of the Indonesian capital market.
After the acquisition, Moody's Indonesia will convert the result of the rating that Kasnic set as a national rating scale of Moody's (NSRs). It may result in ratings that reflects the risk of local bonds to market players in Indonesia.