JAKARTA. PT AKR Corporindo Tbk (AKRA), a company engaged in the trading and distribution of fuel, is rated “idAA-” with a stable outlook from the Pemeringkat Efek Indonesia (Pefindo).
Salyadi Saputra, President Director of AKRA, said that the rating also applies to the Shelf Registration Bonds I Year 2017. The rating is given after Pefindo calculates the company's financial statements as of September 30, 2020.
"An obligor rated idAA has a slight difference from the highest rating given, and has a very strong ability to fulfill its long-term financial commitments," Saputra said in a press release received by idnfinancials.com.
Saputra added that the rating could still be raised if AKRA improved its capital structure. On the other hand, the rating could be lowered if the company finances its business expansion using debt aggressively.
As of September 30, 2020, 59.60% of AKRA's shares were controlled by PT Arthakencana Rayatama. Public investors own 38.06% stake, company management owns 0.66%, and 1.68% are treasury shares. (KR/LM)