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Pefindo maintains its "idAA" rating for Pelindo despite COVID-19

16 April 2020 15:17

JAKARTA. Pemerningkat Efek Indonesia (Pefindo) keeps its rank for PT Pelabuhan Indonesia IV (Persero), also known as Pefindo, and its bonds at "idAA" level with a stable outlook.

Emanuel Paco Tan and Yogie Surya Perdana, analysts of Pefindo, said that the rating has taken into account a number of factors that influenced the performance of Pelindo IV. Starting from the support of the Indonesian government as a sole shareholder, as well as the company's resilience to global economic uncertainty.

"We also view that the government's lockdown policy will not disrupt cargo and container traffic to provide efficient logistics," the two analysts said in an official report.

Nevertheless, Pefindo claimed that it will continue to monitor the development of the COVID-19 pandemic in Indonesia. "If there is a material change, we will make the necessary adjustments.

For information, Pelindo IV has provided port service facilities in 25 port branches and 3 container terminals. A number of these ports and terminals are in 10 provinces in Indonesia. (KR/AR)

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