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Bumi Serpong Damai awarded idAA- rating by Pefindo

14 March 2019 01:47 PM  Company: PT. Bumi Serpong Damai Tbk[BSDE]
Rp. 1,205  -5 (-0.41%)

JAKARTA. PT Bumi Serpong Damai Tbk (BSDE) has been awarded an idAA- rating by PT Pemeringkat Efek Indonesia (Pefindo) for the company and its Shelf-Registered Bonds Phase I Series C/2012 and Shelf-Registered Bonds II Phase I Series A and B/2016 with a stable outlook.

In an information disclosure at the Indonesia Stock Exchange (IDX), Pefindo explains that BSDE has a stronger ability to fulfill its long-term financial commitment compared to other bond issuers in Indonesia.

The rating also affirms BSDE's position in the property industry, with strengths including various property products with wide coverage and strong cash flow protection.

This year BSDE is targeting Rp 6.2 trillion in marketing sales. The achievement is expected to be supported by flagship projects in the residential and commercial segments.

Residential sales are believed to be the main contributor to the company's marketing sales this year with 56%, while the remaining 44% will be contributed by commercial products such as land plots, shophouses, and condominiums. (AM/MS)

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PT. Bumi Serpong Damai Tbk [BSDE]   Rp. 1,205   -5 (-0.41%)