TEXT-S&P places PT Gajah Tunggal rating on watch positive

Newswire

(The following statement was released by the rating agency) Dec 27 - Overview -- Gajah Tunggal's refinancing initiative will improve its debt maturity profile. -- We also expect the Indonesia-based tire manufacturer to sustain our "aggressive" financial risk profile over the next two years. -- We are placing our 'B' long-term corporate credit rating and 'axBB-' ASEAN regional scale rating on Gajah Tunggal on ...

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