Along with the increase in Indonesia’s long-term debt rating, Standard and Poor’s (S&P) Global Ratings took rating actions on nine companies in Indonesia and the bonds they issued. The actions follow the upgrade of Indonesia (BBB/Stable/A-2) and the revision of Indonesia risk assessment for the country.
In S&P view, Indonesia has solid growth prospects, and it expects stable policy making over the coming years. Six Indonesian companies received a rise in rank by S&P include PT Perusahaan Listrik Negara (PLN), PT Pertamina, and PT Pelabuhan Indonesia (Pelindo) II, PT Pelabuhan Indonesia (Pelindo) III, PT Cikarang Listrindo Tbk (POWR), and PT Astra International Tbk (ASII).
Two companies got a change in the outlook for ratings from negative to stable. Both are PT Perusahaan Gas Negara Tbk (PGAS) and its subsidiary PT Saka Energi Indonesia (SAKA). While one company, namely PT Jasa Marga Tbk (JSMR), was confirmed its rating by S&P.