PEFINDO affirms 'idAAA' and 'idAAA(sy)' ratings for PLN's maturing bond, sukuk
Tuesday, December 21 2021 - 10:23 PM WIB
(20 December 2021)--PEFINDO has affirmed its “idAAA” rating to Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Shelf Registered Bond III Phase III Year 2019 Seri A of IDR369.0 billion and its “idAAA(sy)” rating to PPLN’s Shelf Registered Sukuk III Phase III Year 2019 Seri A IDR263.0 billion that will mature on February 19, 2022. The Company plans to use its internal fund to pay the maturing bond and sukuk ijarah. As of September 30, 2021, PPLN had cash and cash equivalent of IDR40.5 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 45,616 megawatts (MW) (including rental) at the end of 2020. (ends)