JAKARTA - Angkasa Pura Airports regained idAAA (Triple A) rating from PT Pemeringkat Efek Indonesia (Pefindo) with stable outlook for the period of August 7, 2017 until August 1, 2018.
In addition, Pefindo also re-assigned idAAA and idAAAsy ratings to Bonds I Angkasa Pura Airports Series A, Series B, Series C year 2016 worth 2.5 trillion IDR and Sukuk Ijarah I Angkasa Pura Airports Series A, Series B, Series C Year 2016 Worth 500 billion IDR for the same period with the corporate rating period, that is 7 August 2017 to 1 August 2018.
The rating was granted by Pefindo based on data and information from the Company and the Unaudited Financial Statements as of June 30, 2017 and Audited Financial Statement as of December 31, 2016.
As is known, idAAA is the highest rating given by Pefindo where this rating shows the superior bond issuer's ability to fulfill its long-term commitment.
Director of Finance and Information Technology at Angkasa Pura Airports Novrihandri said that the highest rating of Angkasa Pura Airports bonds given in the framework of the annual monitoring described briefly the appeal of Angkasa Pura I bonds to investors.
"This also indicates that the risk of default is so low that it can give an idea to potential investors that the bonds issued by Angkasa Pura Airports have good prospects for investment," Novrihandri said.
In addition, the ratings reflect strong government support to Angkasa Pura Airports due to the airport's strategic role, strong competitive advantage of the region's served economy, and stable profitability margins. However, the ratings are limited by high financial leverage in the short to medium term.
For information, funds obtained from the Bonds and Sukuk Ijarah after deducting emissions costs, about 75% will be used by Angkasa Pura Airports to develop five airports, namely New Yogyakarta Airport, Ahmad Yani Airport Semarang, Syamsudin Noor Airport Banjarmasin, Juanda Airport Surabaya, and Sultan Hasanuddin Airport Makassar. The rest is used for routine investments. [DR]
