PT Profesional Telekomunikasi Indonesia (“Protelindo”), the main subsidiary of PT Sarana Menara Nusantara Tbk (“SMN”, “TOWR”) recently received a ratings upgrade from Fitch Ratings to BBB/AAA.
“We welcome the upgrade by Fitch Ratings as recognition of our strong performance and continued market-leading position in providing vital telecommunication infrastructure, especially important now that we are living with global Covid-19 virus pandemic,” stated Aming Santoso, SMN President Director. “We are supporting Indonesia’s vital communications sector that the Government has named as an “essential service”. Our year to date performance has been encouraging with healthy increases in colocations and continued rollout of additional fiber optic cables.”
SMN, owner of Protelindo, is traded under the ticker "TOWR" on the Bursa Efek Indonesia.
Copy of said Fitch Ratings release can be found here.