JAKARTA - PT Indonesian Rating Agency (Pefindo) raised PT Siantar Top Tbk (STT) ranking from IdA to idA + for the period 10 January 2020 to 1 January 2021. The rating was pinned referring to the unaudited Financial Statement data as of 30 September 2019, where the company This recorded a profit increase of up to 88.91%.
As quoted from the disclosure of information, the determination of the STTP rating upgrade was released by Pefindo on January 13, 2020. "Bonds with idA ratings have a stronger ability than other Indonesian obligors to meet their long-term financial commitments. However, the ability of obligors may be easily affected by adverse changes. economic conditions compared to obligors with higher ratings, "he said.
Based on the financial statements of the third quarter of 2019, STTP recorded sales of Rp 2.59 trillion, up 26.73% from Rp 2.04 trillion in the same period last year. While net profit was recorded at Rp 377.16 billion, up 88.91% from Rp 199.65 billion. (LK)