Pefindo affirms idA rating for Lautan Luas Shelf Registration Bond
JAKARTA - PT Lautan Luas Tbk (LTLS) received an idA rating from PT Pemeringkat Efek Indonesia (PEFINDO) with stable company prospects. For information, PEFINDO maintains the corporate credit and bond ratings of PT Lautan Luas Tbk.
PEFINDO has affirmed its idA rating for its Shelf-Registered Bonds (SR) II Phase II Year 2017 Series B PT Lautan Luas Tbk (LTLS) worth Rp285.5 billion which will mature on November 28, 2022.
The company plans to repay the maturing bonds using internal cash and external credit facilities.Lautan Luas Investor Relations Manager (LTLS) Eurike Hadijaya explained that this rating reflects the company's increasingly strong position in the country's manufacturing industry.
“With the improving credit profile and the increasing credit rating given by Pefindo, we see a positive impact on the Company. The Company's interest rates and interest expense are expected to be better, which will also have an impact on improving the Company's performance," explained Lautan Luas Investor Relations Manager (LTLS) Eurike Hadijaya in a press statement.
In the first semester of 2022, PT Lautan Luas (LTLS) recorded revenues of Rp 4.06 trillion. This number increased by 32% over the same period the previous year. LTLS's net profit also managed to increase to Rp 181 billion or a 134% jump from the same period the previous year of Rp 77 billion. As of June 30, 2022, the Company had cash and cash equivalents of Rp245.2 billion. (LM)