The Indonesia Stock Exchange (IDX) suspended trading of shares in the taxi company Express Transindo Utama (TAXI) as the Company failed to pay bonds interest, which was due on March 26, 2018. However, the IDX revoked the suspension as TAXI paid the bond’s interest on April 2018.
At the same time, Credit rating agency PT Pemeringkat Efek Indonesia (PEFINDO) downgraded TAXI rating bonds issued in 2014 to D from BB-. TAXI has issued bonds worth Rp1 trillion (US$71.43 million) with a coupon of 12.25% per annum that are due to June 24, 2019.
