JAKARTA. Pemeringkat Efek Indonesia (Pefindo) gave "idBBB +" rating for the Zero-coupon Shelf Registration Medium Term Notes (MTN) II Phase I/2018 issued by PT Waskita Toll Road with a total value of Rp 338.8 billion, which will mature in October.
Pefindo noted that Waskita Toll Road's debt ratio increased slightly to 0.9 times at the end of March 2019. Even though at the end of December 2018, the debt ratio of PT Waskita Karya Tbk (WSKT)'s subsidiary was at the level of 0.8 times. However, the rating is given because Waskita Toll Road has prepared to make MTN payments.
"The maturing MTN is supported by internal cash flows and external funds originating from the return of verified land bailouts," Pefindo explained in an official statement received by idnfinancials.com.
The "+" notation in the ranking, said Pefindo, shows that Waskita Toll Road has compliance to pay off loans, compared to other issuers or obligors in the same business line. (KR/AR)