Satelindo gets new ratings

Satelindo gets new ratings

JAKARTA (JP): Two leading international rating companies,
Moody and Standard & Poor's Corp. have assigned Baa3 and BBB
ratings, respectively, to PT Satelit Palapa Indonesia
(Satelindo).

Satelindo said in a statement yesterday that the company was
assessed for its business, future finance and management.

"The ratings reflect the increasing potential for
telecommunication services in Indonesia."

The company said that the ratings were also related to
Satelindo's plan to increase its capital for its operational
financing following stiffer competition in the cellular business
in Indonesia.

Satelindo runs three services, including cellular,
international telecommunications and satellite leasing.

Company president Iwa Sewaka said the ratings showed that
international parties had accredited the four-year-old Satelindo
well. (icn)