Indonesia's Telkomsel Debt Ratings Held at Stable

... Fitch says that Telkomsel's ratings reflect its entrenched position as Indonesia's leading cellular operator and favourable growth prospects. It is 65% owned by the incumbent Telekomunikasi Indonesia, and 35% owned by Singapore Telecommunications, from whom Telkomsel derives operational benefits and technological support. As the largest beneficiary of ongoing robust industry growth, the company has achieved consistently impressive operating results - total subscribers increased to 42.8 million at H107 from 35.6m at FYE06, implying annualised growth of 41% and a market share of around 56%. [more, celluler-news]