JAKARTA. Fitch Ratings corrected the ratings of senior rupiah bonds of PT Sinar Mas Multifinance (SMMF) to A- (idn) with a stable outlook.
In an official statement received by idnfinancials.com, Fitch Ratings said that the potential of the bonds issued by SMMF with that rating was as much as Rp 800 billion. The national rating applies to bonds with a period of 370 days and 3 years.
In determining the rating, Fitch Ratings considers the position of SMMF, which is 99.99% owned by PT Sinar Mas Multiartha Tbk (SMMA).
At present, SMMF's total assets are only around 6% of the total assets of SMMA. Nevertheless, Fitch said that the condition of financial performance of SMMA will affect the performance and ratings of bonds issued by SMMF. (KR/AR)