JAKARTA. Pemeringkat Efek Indonesia (Pefindo) gave an "idA +" rating to PT Wijaya Karya Beton Tbk (WTON) with a stable outlook.
One of Pefindo's considerations in giving this rating is WTON's involvement in a number of infrastructure projects in Indonesia. "It reflects WTON's strong market position, which benefits from the acceleration of the government's infrastructure development program," Pefindo explained in an official statement received on idnfinancials.com Friday (9/8) today.
Pefindo also stated that WTON currently has a fairly strong capital structure. Unfortunately, the company's rating, said Pefindo, is limited by domestic business volatility and the new players in the construction industry.
More than that, Pefindo said that the rating for WTON may be lowered, if the company failed to achieve its revenue and EBITDA target. "The rating will also be under pressure if business expansion does not materialize as expected," said Pefindo. (KR/AR)