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Pefindo demotes Angkasa Pura’s rating due to credit profile

16 June 2021 16:37

JAKARTA. Pemeringkat Efek Indonesia (Pefindo) has lowered the rating for PT Angkasa Pura I (Persero) and its two bonds, including an obligation and a sukuk.

In an official statement, Pefiindo has relegated the company rating of Angkasa Pura I to “idAA+” with a “Negative” outlook from the previous “idAAA” with the same outlook. Then, the rating of Obligation I Series A-C Year 2016 is downgraded to “idAA+” from the initial “idAAA.” Additionally, the rating of Sukuk Ijarah Series A-C Year 2016 is also lowered to “idAA+ (sy)” from “idAAA (sy).”

Handy Heryudhitiawan, the VP Corporate Secretary of Angkasa Pura I, explains that these diminishing ratings result from the company’s strained credit profile. Heryudhitiawan confirms that this is a consequence of the ongoing pandemic, which leads to the deteriorating flight industry.

Furthermore, Heryudhitiawan predicts that the possibility of the government supporting Angkasa Pura I is also diminishing. “The government would be more selective in aiding state-owned enterprises (BUMN),” he explains. (KR/ZH)

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