Adira Finance rated Baa2 by Moody's and BBB by Fitch
ADMF - PT. Adira Dinamika Multi Finance Tbk
JAKARTA. PT Adira Dinamika Multi Finance Tbk (ADMF) has been rated Baa2 by Moody's Investors Service and BBB (investment grade) by Fitch Ratings.
ADMF Finance Director I Dewa Made Susila said the ratings would strengthen the company's position in obtaining new funding sources.
"We hope the ratings can strengthen [our] market position and confidence within the financial community, and give us the opportunity to obtain competitive funding sources," said Mr Susila in a press release, Monday (15/4).
Currently ADMF records gearing ratio of 3.1 times, which gives the company more flexibility to seek additional funding to finance the company's needs.
Last year ADMF's total funding reached Rp 22 trillion, dominated by financing from the stock market such as the issuance of bonds and sukuks. Loan facility in foreign currencies contributed 36%, while the rest came from local bank loans. (AM/MS)