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Moody's assigns 1st time rating to Indonesia's Intiland Development

Moody's Investors Service assigned Indonesian property developer PT Intiland Development Tbk a first-time B2 corporate family rating, with a stable outlook.

Moody's attributed the rating to Intiland's market position, diversified asset portfolio, its joint ventures with reputable partners such as GIC Pvt. Ltd., healthy recurring income, and the probability of improvement in the company's financial metrics and liquidity over the next 12 to 18 months.

The stable outlook reflects the rating agency's expectation that Intiland will improve its financial metrics and meet its marketing sales targets of 3.3 trillion Indonesian rupiah over the next 12 to 18 months.

As of July 26, US$1 was equivalent to 14,453.00 Indonesian rupiah.