Pefindo Cut Lontar Papyrus Pulp Ratings. PT Pemeringkat Efek Indonesia (Pefindo) cut the credit ratings of 5 companies in the third quarter of 2020. Pefindo’s Head of Corporate Rating Division, Niken Indriarsih. She said that during the July – September 2020 period. Pefindo’s Corporate Ratings Division issue 67 rating publications for around 50 companies.
In this period there were several times the same company was award a rating publication. Of the types, it varies, such as periodic monitoring (22). Monitoring of maturity (14), special monitoring (14) issuance of debt securities (12), and companies (5), said Niken Thursday (15/10/2020).
Niken point out that most publications were given to the property sector, namely 8 companies. Furthermore, for the toll road sector companies and the management of each of the 6 companies. In the third quarter of 2020, Pefindo cut the company’s rating rather than raising it. Of the 15 companies.
Whose rank was change by Pefindo in the third quarter of this year, 5 companies were given a rating downgrade, 4 companies were assign an up-rating, 4 companies were given a fix rating, and 2 companies were given a default rating. Meanwhile, companies whose ratings have been downgrade are PT Industri Kereta Api (Persero).
As well as PT Waskita Toll Road, PT Waskita Karya (Persero) Tbk., PT Lontar Papyrus Pulp & Paper Industry, and PTPN III. Meanwhile, the companies whose rating has been raise are PT Barata Indonesia (Persero), PT Kereta Api Indonesia (Persero), PT Adhi Persada Properti, and PT Ricobana Abadi.
Furthermore, only PT Barata Indonesia (Persero) was able to move out of the selective default idSD to idCCC with a negative outlook. Meanwhile, PT Tiphone Mobile Indonesia Tbk. get the default idD rating from the previous selective default idSD. Likewise, PT Modernland Realty Tbk. rate idSD selective default from the previous idCCC with negative outlook.