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Pefindo maintains its "idAAA" rating for Indonesia Power

21 August 2019 11:39

JAKARTA. Pemeringkat Efek Indonesia (Pefindo) maintains its rating for PT Indonesia Power, a subsidiary of PT PLN (Persero), at the level of "idAAA" with a stable outlook.

Martin Pandiangan and Aryo Perbongso, analysts at Pefindo, said that Indonesia Power has a fairly strong ability in meeting its long-term financial commitments. Even though the company has not issued debt securities, Pefindo considers Indonesia Power to be in a strategic market position.

Nevertheless, Pefindo explained that Indonesia Power's ranking was constrained by the relatively high funding dependency to PLN.

By the end of June, Indonesia Power's total assets have reached Rp 199.08 trillion, 1.5% higher than the record from the end of 2018 fiscal year. Meanwhile, the company's net profit reached Rp 2.29 trillion during the first semester of 2019. (KR/AR)

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