S&P raises long-term ratings on seven Indonesian corporates

S&P Global Ratings said yesterday that it had raised its long-term corporate credit ratings on seven Indonesian companies after a similar action on the sovereign credit rating on Indonesia. 
"We raised the long-term Asean regional scale rating on four companies," it said in a statement. 
"We also raised the issue ratings to 'BBB-' from 'BB+' on the outstanding notes issued by the following entities: PT Pertamina (Persero); PT Pelabuhan Indonesia II (Persero); PT Pelabuhan Indonesia III (Persero); PT Perusahaan Gas Negara (Persero) Tbk; and the issue ratings to 'BB+' from 'BB' on the outstanding notes issued by PT Saka Energi Indonesia."