JAKARTA - PT Pemeringkat Efek Indonesia (Pefindo), downgraded the outlook of PT Trimegah Sekuritas Indonesia Tbk (TRIM) from stable to negative.
Pefindo analysts Putri Amanda and Danan Dito stated that despite the downgrade, Pefindo did not change the rating of the company and its medium-term notes (MTN) Trimegah I/2018. The rating for both is "idA".
The downgrade, said Amanda and Danan Dito, reflects the significant impact of the COVID-19 outbreak on the securities industry and the overall credit profile of Trimegah Sekuritas. Moreover, before the outbreak, the securities industry was already affected by the Jiwasraya case, which resulted in a decrease in trading volume and the withdrawal of mutual funds. (ARM/AR)