Fitch Ratings affirmed Indonesian property developer Alam Sutera Realty Tbk's long-term issuer default rating at B.
The outlook is stable.
Fitch said the affirmation reflects its view that the company's business and financial risk profiles are "largely intact" despite weaker than expected presales in 2017. According to Fitch, presales are likely to improve in 2018.
The rating agency also noted that there might be a short-term demand risk due to political uncertainty surrounding the upcoming regional and presidential elections in 2018 and 2019.