Indosat's debt rating kept at BB-

Indosat's debt rating kept at BB-

JAKARTA: PT Indosat, Indonesia's second-largest telephone network operator, had its foreign currency debt rating maintained at BB- by Standard & Poor's.

"The rating affirmation reflects Indosat's continued solid market position in a rapidly growing cellular market, its moderate leverage, and adequate cash flow protection," S&P said in a statement on Monday. The rating is three levels below investment grade. The outlook was stable, S&P said.

Indosat is 42 percent owned by Singapore Technologies Telemedia Pte. -- Bloomberg