PEFINDO has assigned its idA+ rating to PT Energi Mega Persada Tbk

(December 19, 2025)--PEFINDO has assigned its idA+ rating to PT Energi Mega Persada Tbk (ENRG) and ENRG’s proposed Shelf Registration (SR) Bond I of a maximum of IDR4 trillion. The bond issuance proceeds will be used for the early repayment of existing indebtedness and to fund working capital to support the ongoing business activities of ENRG and its subsidiaries. The outlook of the corporate rating is Stable.

The corporate rating reflects ENRG’s diversified assets, its high proportion of recurring revenue from gas with favorable reserves, and strong financial profile. The rating is constrained by its moderate position in the industry, exposure to related parties’ transactions, as well as inherent risk in commodity-based sectors and exposure to energy transition risk.

The rating may be raised if ENRG significantly strengthens its business position in the industry as a result of business expansion, while maintaining its strong financial profile and improving its financial access to external sources with more favorable costs. On the other hand, the rating may be lowered if the Company is more aggressive in financing its business activities, resulting in higher-than-projected debt without being compensated for by stronger business performance. The rating may also be under pressure if commodity prices significantly drop below our anticipation, which may adversely affect its revenue and profitability.

PT Energi Mega Persada Tbk is a publicly listed, oil and gas exploration and production (E&P) company with major operations in Indonesia. At the end of June 2025, its shareholders consisted of PT Trimegah Sekuritas Indonesia Tbk (23.0%), PT Shima Global Capital (18.0%), and the public (below 5% each) at 59.0%. The Company’s ultimate shareholder is PT Bakrie Kalila Investment. (ends)