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Deemed as low-risk, Fitch grants an "AA- (idn)" rating to WOMF’s bonds

29 July 2021 21:58

JAKARTA. PT Wahana Ottomitra Multiartha Tbk (WOMF) receives an “AA- (idn)” for its upcoming senior bond issuance worth IDR 5 trillion.

This rating is also applied to the Series A Bonds of WOMF worth IDR 302 billion, offered at a 5.5% interest rate and a 370-day tenor. Additionally, the rating is also given to the Series B Bonds of IDR 198 billion with a 7% annual interest and a three-year tenor.

“The national rating of “AA” signifies a relatively very low risk of payment failure compared to other companies and bonds in Indonesia,” Roy Purnomo, Fitch Ratings Indonesia analyst, explains in the official report.

Additionally, Fitch deems WOMF to have incredible support from its parent company, PT Bank Maybank Indonesia Tbk (BNII). On top of that, WOMF has found quite a solid backing in its ultimate parent company, Malayan Banking Berhad.

According to idnfinancials.com data, WOMF’s stock price in today’s transaction is ended weakened 1.68% or 4 points to IDR 234 per share. The shares’ highest price is recorded at IDR 240 per share, and its lowest at IDR 232 each. (KR/ZH)

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