PEFINDO affirms “idAAA” and “idAAA(sy)” ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara’s maturing bond and sukuk ijarah
Wednesday, November 6 2019 - 04:12 PM WIB
(November 5, 2019)--PEFINDO has affirmed its “idAAA” rating to Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Bond XI Year 2010 Seri B of IDR1,783.0 billion and its “idAAA(sy)” rating to PPLN’s Sukuk Ijarah IV Year 2010 Seri B of IDR167.0 billion that will mature on January 12, 2020. The Company plans to use its internal fund to pay the maturing bond and sukuk ijarah. As of June 30, 2019, PPLN had cash and cash equivalent of IDR32.9 trillion.
A debt security rated idAAA has the highest rating assigned by PEFINDO. The obligor’s capacity to meet its long-term financial commitment on the debt security, relative to other Indonesian obligors, is superior.
The suffix (sy) means the rating mandates compliance with Islamic principles.
PPLN is a wholly owned state company engaged in the generation, transmission, and distribution of electricity throughout the country. It is the only integrated electricity producer in Indonesia, with an installed capacity of 57,822 megawatts (MW) (including rental and independent power producer) at the end of 2018. (ends)