Moody's: XL Axiata's revenue declines in 2016, but strong profitability and lower leverage continue to support rating
Hong Kong, February 02, 2017-- Moody's Investors Service says that although XL Axiata Tbk' s 2016 revenues declined 7% year-on-year, stable profitability and declining leverage continue to support the company's Ba1 corporate family rating and positive outlook. Reported revenue declined to IDR21.3 trillion in 2016 from IDR22.9 trillion in 2015 as large falls in voice and SMS and interconnection services more than offset strong growth in cellular data services.
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