PEFINDO affirmed "idAA-" PT AKR Corporindo Tbk and Its Bond

(12 October 2015) -- PEFINDO has affirmed its "idAA-" ratings for PT AKR Corporindo Tbk (AKRA) and its bond 1/2012. The outlook of the corporate rating is "stable". The ratings reflect the steady demand of fuel in Indonesia, extensive logistic infrastructure network, and strong cash flow protection.

However, the ratings are constrained by the risk related to further development in the industrial estate and its exposure to risk of downturn in mining sector, which constitutes one of the Company's main customer segments for its fuel distribution business.

AKRA has the main business in the trading and distribution of fuel and basic chemicals in Indonesia and through its subsidiaries is also engaged in logistic, manufacturing, coal mining, integrated industrial estate and port businesses.

In addition to its business in Indonesia, AKRA has manufacturing company and container and bulk commodity river ports in Southern China.

As of June 30, 2015, its shareholders consisted of PT Arthakencana Rayatama (58.g0/o), management (0.4?/~), and the public (each below 5% ownership, 40.7O/0). (ends)