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Premier Insight : WSKT, outlook from stable to negative, following the company’s high leverage
Tuesday, April 16, 2019       09:37 WIB

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Fitch rating has revised down Waskita (; Rp2,060; Hold) outlook from stable to negative, following the company's high leverage (net debt/EBITDAR) at 6.1x (vs. Fitch rating's policy at below 5.5x for stable outlook). The high leverage is due to external funding generated to execute its turnkey projects, in addition to some delay of turnkey payment following the long administrative process. (Kontan).
Comment: The company's high leverage is also our main concern. However we hope on the upcoming turnkey payments this 2Q19 and proceed from divestment of its toll road to push down its leverage ratio.

Sumber : IPS RESEARCH

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