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PEFINDO affirms idAA- rating and improves outlook from stable to positive for PT AKR Corporindo (AKRA)

13 March 2018

JAKARTA, 13th Mar 2018

Credit rating agency PEFINDO has affirmed its “idAA-“ rating for PT AKR Corporindo (AKRA), it’s shelf-registered bond I Year 2017 and Bond I Year 2012, as below:-  

Bond/ Series

Maturity

Bonds I AKR Corporindo Year 2012 Series B

Dec 21, 2019

Bonds I AKR Corporindo Stage I Year 2017

23rd June 2020/ 23rd June 2022/ 23rd June 2024

The rating outlook is revised to “positive” from “stable” in anticipation of further improvement in the Company’s capital structure and cash flow protection measures, supported by significant cash flow generated from divestment of AKRA’s China business. Pefindo notes further improvements are also supported by better cost management in the fuel distribution business as well as potential higher revenue from the land sales of its industrial estate.

Pefindo notes rating may be improved further if AKRA improves its capital structure, while maintaining efficient cost management in its fuel distribution business and achieving its industrial estate land sales target.

The full press release can be downloaded from Company’s website : http://www.akr.co.id/ (Bond Information)

 

Please download the following document for details