JAKARTA. Pemeringkat Efek Indonesia (Pefindo) has given “idA+” rating for the maturing bonds of PT Indah Kiat Pulp Paper Tbk (INKP).
The bonds’ principal amount reaches IDR 495.5 billion and will mature on June 15, 2021. INKP plans to pay off its obligations by using internal cash.
Agung Iskandar and Samgar Effember, Pefindo analysts, explained that the obligation rating indicates the solid capacity of INKP to fulfil its long-term obligations. Pefindo gives a corporate rating of “idA+” with a stable outlook to INKP.
According to idnfinancials.com, INKP’s sales declined 7.35% in 2020 to USD 2.99 billion. However, its net profit shifted 7.18% to USD 294.1 million in 2020.
As of December 31, 2020, 53.25% of INKP’s shares are controlled by PT Purinusa Ekapersada, a company under Sinarmas Group. The remaining 46.75% is distributed among the public investors. (KR/ZH)