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Pefindo downgrades Adhi Karya's outlook

13 April 2020 10:37

JAKARTA - PT Pemeringkat Efek Indonesia (Pefindo) downgraded its rating for PT Adhi Karya Tbk (ADHI) from stable to negative, while maintaining its rating for the company's 2017 and 2019 Shelf Registration Bonds at "idA-" level. 

Aryo Perbongso and Yogie Surya Perdana, analysts from Pefindo, stated in their research report published on Thursday (9/4) that the decision to downgrade the outlook was made to anticipate changes and postponements of a number of the company's projects caused by the outbreak by COVID-19.  

However, the company is considered to have a stronger ability compared to other Indonesian obligors in fulfilling its long-term commitments. However, this may also change in the future if the impact of COVID-19 outbreak on the company is getting worse. (ARM/AR)

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