JAKARTA – PT Pelabuhan Indonesia (Persero) obtained an “idAAA/Stable Outlook” rating for the next year from PT Pemeringkat Efek Indonesia (Pefindo), a domestic rating agency. Pelindo is a state-owned holding merging Pelindo I, III, and IV into Pelindo II, effective since October 1, 2021.
Salyadi Saputra, President Director of Pefindo, explained that the obligor’s rating of “idAAA” is the highest rating that Pefindo could give. Thus, it represents the superiority of this obligor’s capability to fulfil its long-term financial commitments compared to other obligors in Indonesia.
According to Saputra’s words, this rating is not limited to one particular security issued by the company as it did not consider the structure and other provisions of the debt securities, its protection level, and claims arrangement by the obligors should the company is liquidated. “Moreover, the said rating did not calculate the guarantor’s reliability, insurance provider, or other credit enhancement providers that back up certain securities,” he added.
For the record, Pelindo I had issued Bond I Gerbang Nusantara Series C and D Year 2016 of IDR 450 billion. Based on the unaudited Financial Report in June 2021 and audited Financial Report in December 2020, the said obligation had also received an “idAAA” rating. It escalated from the previous “idAA-.” Similarly, Bond I Pelindo IV Series A, B, and C Year 2018 of IDR 300 billion also obtained an “idAAA,” also improving from “idAA.”