Credit Suisse Cut Adaro's Rating to Neutral

Indonesia’s second-largest coal producer had its rating cut to “neutral” from “outperform” at Credit Suisse AG on valuations and as heavy rain hindered the company’s operations. 

The brokerage raised PT Tambang Batubara Bukit Asam (PTBA IJ) to “outperform” from “neutral” as the company would benefit from a rising coal price.