Moody's Ratings withdraws Pertamina International Shipping's ratings

Singapore, December 16, 2025 -- Moody's Ratings (Moody's) has withdrawn Pertamina International Shipping (P.T.)'s (PIS) Baa3 issuer rating and ba2 baseline credit assessment. The outlook was stable prior to the withdrawal.

RATINGS RATIONALE

We have decided to withdraw the rating(s) following a review of the issuer's request to withdraw its rating(s). Please refer to Moody's Ratings' Withdrawal of Credit Ratings Policy, available on our website, https://ratings.moodys.com, for more information.

COMPANY PROFILE

Pertamina International Shipping (P.T.) (PIS) is an integrated shipping and marine logistics company, providing shipping, marine and logistics services primarily in Indonesia.

PIS' operations are primarily located in Indonesia as it services all the domestic shipping requirements of the Pertamina group. Revenue from the Pertamina group accounted for almost 90% of PIS' total revenue.

PIS is 98.88% effectively owned by Pertamina, with the remaining 1.12% owned by Nippon Yusen Kabushiki Kaisha (NYK, Baa3 stable).

REGULATORY DISCLOSURES

These ratings are solicited. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website https://ratings.moodys.com.

Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.

The Global Scale Credit Rating(s) discussed in this Credit Rating Announcement was(were) issued by one of Moody's affiliates outside the EU and UK and is(are) endorsed for use in the EU and UK in accordance with the EU and UK CRA Regulation. (ends)