BADUNG, Indonesia -- Moody's Investors Service has downgraded Lippo Karawaci's credit rating from B1 to B2 with a negative outlook amid concerns about the company's liquidity.
Lippo Karawaci, Indonesia's largest hospital operator and a unit of conglomerate Lippo Group, had been put on a rating watch by Moody's in mid-April after it failed to file its full-year 2017 results on time, the third time over the last year that it had failed to do so.
