trending Market Intelligence /marketintelligence/en/news-insights/trending/v8hcy9xhjwzbq7mpyo9obq2 content esgSubNav
In This List

Fitch downgrades PT Lippo Karawaci rating

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Fitch downgrades PT Lippo Karawaci rating

Fitch Ratings downgraded its long-term issuer default rating on Indonesia-based developer PT Lippo Karawaci to B+ from BB- and affirmed its national long-term rating at A+(idn), with stable outlooks.

The rating agency attributed the downgrade to the company's proposed sale of a substantial stake in its MEIKARTA project, which Fitch expects will significantly reduce the company's cash flow.

The affirmation of the national long-term rating is based on the expectation that the company's credit profile will remain stronger than those of its local competitors, thanks to the solid recurring cash flow from its diversified commercial property portfolio.