JAKARTA - The Indonesian Securities Rating Agency (Pefindo) has affirmed its “idA-” rating for the 2019 Tridomain Performance Materials Bond I, issued by PT Tridomain Performance Materials Tbk (TDPM).
Salyadi Saputra, President Director of Pefindo, said that the rating was calculated based on the company's audited financial report. With this rating, Pefindo assesses that TDPM's ability to meet financial obligations is quite strong compared to other obligors in Indonesia.
"The minus sign (-) indicates that the rating given is relatively weak and below the average of the respective category," said Saputra.
According to idnfinancials.com data, TDPM posted a net profit of US$ 7.28 million during the first semester of 2020. However, this company, with total assets of US$ 359.14 million, has total bond debt of US$ 33.52 million. (KR/VA)