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NEWS UPDATES Asean Affairs   9 July 2013  

Indonesia's Tower Bersama gets AA-(idn) rating from Fitch

Indonesia:Ratings agency Fitch Ratings has assigned PT Tower Bersama Infrastructure Tbk (TBI) a national long-term rating of AA-(idn) with stable outlook.

The drivers for the rating included the company’s solid credit profile, strong profitability, and its minimum liquidity risks.

“TBI's credit strengths are its ability to generate predictable cash flows, strong counterparty tenant mix and a high operating EBITDAR margin,” Fitch said in an official release

“The rating is also supported by high barriers to entry as the Indonesian telco regulator prohibits non-Indonesians from holding majority stakes in tower companies.”

Fitch added future developments that could individually or collectively lead to negative rating actions included debt-funded acquisition of another tower portfolio or lease defaults by weaker telcos and a fall in revenue contribution from investment-grade telcos to below 50 percent.

“A positive rating action is not expected in the medium term as the company is unlikely to deleverage significantly as it invests to maintain growth,” Fitch said.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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