JAKARTA. Pemeringkat Efek Indonesia (Pefindo) immediately downgraded the rating of Perum Perumnas' MTN I/2017 Series A, which matured on 28 April 2020, from BBB + to D, the default.
Pefindo said that the downgrading was related to the company's inability to pay the principal of the MTN (Rp 200 billion). The downgrade to D occurred automatically when the default first occurred.
Pefindo also downgraded its rating for Perum Perumnas to SD (selective default) from BBB +. The SD rating indicates that obligors have failed to pay one or more of their financial obligations, whether they have been rated or not rated, but are still making payments on other obligations. (AM/AR)