JAKARTA – PT Sejahteraraya Anugrahjaya Tbk (SRAJ), a healthcare services issuer operating the Mayapada Hospital network, has been assigned an “idA” (Single A) credit rating by Indonesian ratings agency Pefindo.

“The outlook for the company’s rating is stable,” stated Pefindo in its official release.

The rating also applies to the company’s Bonds I Year 2022 Series A and B, effective from 15 April 2025 to 1 April 2026.

Pefindo noted that SRAJ’s rating reflects the company’s sound fundamentals, including a strong market position, effective operational management, and consistent service quality.

“However, the rating is constrained by a moderate capital structure and intense competition within the hospital industry,” Pefindo added.

Despite this, Pefindo sees a promising growth trend in SRAJ, highlighted by steadily increasing EBITDA year-on-year, demonstrating the company’s ability to generate sustainable operational cash flow.

As of the end of 2024, SRAJ recorded adjusted total assets of IDR 5,433.6 billion, up 1.44% year-on-year. While it still posted a loss of IDR 23.5 billion, this figure had narrowed compared with the previous year, thanks to a surge in revenue which reached IDR 3.15 trillion in 2024.

Arie Parisandi, SRAJ’s Corporate Secretary, expressed gratitude to investors and stakeholders for their continued trust. He also stated in an official release on Tuesday (22/4) that the credit rating result serves as a foundation for sustainable growth going forward.

Pefindo recommended that SRAJ continue to strengthen its capital structure and ensure the success of its ongoing hospital expansion projects. (EF/KR/ZH)