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Moody's changes PT Lippo Karawaci outlook to stable

PT Lippo Karawaci Tbk.'s planned US$730 million rights issue is expected to improve its liquidity, prompting Moody's to change its outlook on the Indonesian developer to stable from negative.

The rating agency also affirmed the company's B3 corporate family rating.

On the outlook change, Moody's added that it expects Lippo Karawaci to have sufficient funding for its operating cash needs and meet its debt obligations for the next 12 to 18 months.