PEFINDO has affirmed its idAA+ rating for PT Angkasa Pura I

(August 16, 2023)PEFINDO has affirmed its idAA+ rating for PT Angkasa Pura I (APAI)’s Bond I/2016 Serie B of IDR389 billion and its idAA+(sy) rating for Sukuk Ijarah I/2016 Serie B of IDR55 billion that will mature on November 22, 2023. The Company plans to repay its maturing debts from the proceeds of its corporate action plan or internal funds. As of June 30, 2023, Company had cash balance of IDR3.3 trillion and EBITDA of IDR1,996 billion.

APAI operates 16 airports (15 directly managed, 1 under JO), majority of which are located in the central and eastern parts of Indonesia. It is the operator of I Gusti Ngurah Rai International Airport in Bali, which is the second busiest airport after Soekarno-Hatta International Airport, serving an average of around 23 million passengers in in 2017-2019. APAI is 99% owned by PT Aviasi Pariwisata Indonesia (Persero) (InJourney), a state-owned enterprise appointed by the government as the holding company for aviation and tourism-related enterprises, and the remainder 1% owned by the government through a golden share. (ends)