JAKARTA. PT Pemeringkat Efek Indonesia (Pefindo), a local rating agency, grants “idA” ratings for two bonds of PT Mandala Multifinance Tbk (MFIN) that will mature in Q4 2022 or December 2022.
These bonds in question are the Series A of the Shelf-Registration Bonds IV Phase IV/2021 worth IDR 300 billion and the Series B of the Shelf-Registration Bonds III Year IV/2019 worth IDR 10 billion. They are due December 10 and 20, 2022, respectively. In order to pay those maturing bonds, the company has prepared cash and cash equivalents of IDR 805.2 billion as last reported in June 2022.
Furthermore, in an official disclosure yesterday (2/10), Pefindo mentioned that this “idA” rating indicates how solid MFIN’s capacity is in fulfilling its long-term financial obligations in comparison to other domestic issuers. However, Pefindo still stressed that its capacity is also more prone to other negative impacts of fluctuating condition and economy than other issuers with higher ratings.
For the record, MFIN is engaged in the consumer financing, particularly aiding its users in new and used motorcycle credits, working capital credits, and other multipurpose credits. The financial statement in June 2022 showed MFIN’s net profit reaching IDR 314.8 billion, shifting 66% year-on-year (yoy) from IDR 189.2 billion. Meanwhile, its revenue clocked up to IDR 1.05 trillion. (AM/ZH)