JAKARTA. Pemeringkat Efek Indonesia (Pefindo), a local rating agency, once again gives an “idD” rating for PT Waskita Beton Precast Tbk (WSBP) due to its failure to fulfil its financial obligations.
In the press release received by idnfinancials.com, Pefindo further specified that said rating was given because WSBP has yet to be able to implement the homologated decision made with one of its creditors. “There is a cassation appeal in the Supreme Court filed by one of the creditors,” Pefindo revealed.
For the record, the same rating was also attached to the Shelf-Registration Bonds I Year 2019 issued by WSBP. The rating takes effect from September 12, 2022, to September 1, 2023.
“The rating may be renewed once WSBP shows its capability in handling its financial obligations according to the homologation agreement,” Pefindo stated.
Until June 30, 2022, WSBP recorded having total assets of IDR 6.43 trillion and total equity of IDR 2.41 trillion. Meanwhile, the debt-to-equity ratio of the company is currently at 0.6. (KR/ZH)