Moody’s Investors Service has assigned a first-time B2 corporate family rating (CFR) to property developer Sentul City (BKSL). The outlook on the rating is stable. Sentul City’s B2 CFR reflects its ownership of a large and low-cost land bank at its Sentul City township, which is well positioned to benefit from infrastructure developments; thereby supporting the company’s marketing sales growth over the next 12-18 months.
The rating outlook is stable, reflecting Moody’s expectation that Sentul City will continue to execute block transactions with strategic investors and roll over its short-term borrowings. Such a situation will support the company’s financial metrics within the threshold of its B2 rating level over the next 12-18 months.