PEFINDO affirms WIKA ratings after payment deferral

(4 March 2026)--PEFINDO has affirmed the ratings of PT Wijaya Karya (Persero) Tbk (WIKA)’s Shelf- Registered (SR) Bond I Phase II Serie A and B at idD and SR Sukuk Mudharabah I Phase II Serie A and B at idD(sy), following WIKA’s deferral of the principal payment on the respective financial instruments due on March 3, 2026. At the same time, PEFINDO has maintained WIKA’s corporate rating at idSD and the Company’s other outstanding bonds and sukuk at idD.

The corporate rating reflects WIKA’s weak financial and liquidity profile as well as risks from previous expansion. We may review the ratings if WIKA is able to resolve the principal and coupon payments of its matured Bond and Sukuk.

Established in 1961, WIKA is one of the state-owned enterprises (SOE) in the construction sector. The Company covers investments, realty & property, infrastructure & building, energy & industrial plant, and industry segments. As of September 30, 2025, its shareholders were the Indonesian government (91.02%) and the public (8.98%). (ends)