JAKARTA - Moody's Investors Service has raised the outlook of PT Lippo Karawaci Tbk (LPKR) from negative to stable and maintained a B3 rating.
As reported by Kontan.co.id, changes in the outlook for Moody's ranking reflect expectations that LPKR will have enough cash to finance operational needs and meet debt obligations until the end of 2020.
In addition, Moody's also maintains a B3 rating for unsecured bonds issued by Theta Capital Pte Ltd, a LPKR subsidiary.
According to LPKR CEO John Riady, the upgraded rating validates the resilience of the funding program that will strengthen the company's balance sheet and increase its liquidity.
"In the future, we will focus on implementing more disciplined capital management to encourage profitability and sustainable growth of our real estate platform," said Mr Riady. (MS)