PEFINDO has assigned its idAA- rating with stable outlook to PT Hakaaston

(June 25, 2026)--The rating is mainly driven by its highly strategic role for the parent, PT Hutama Karya (Persero) (PTHK, idAA-/Stable). Hakaaston’s standalone credit profile reflects its strong economy of service area with integrated facilities and its very conservative financial profile, although it is constrained by its exposure to toll road traffic volatility. Hakaaston’s standalone credit profile does not drive the rating.

Any change in PTHK’s credit profile may trigger a similar rating action to Hakaaston. The rating may also be under pressure if the Company’s degree of importance to PTHK deteriorates, as indicated by Hakaaston’s lower contribution, or if the Parent significantly reduces its share ownership. We may also lower the rating if Hakaaston’s profitability deteriorates materially or the Company incurs more debt than projected without being compensated by stronger revenue prospects.

Established in 2010 as a subsidiary of PT Hutama Karya (Persero) (PTHK), Hakaaston engages in toll road operations, including maintenance works to serve all toll roads owned by PTHK and related parties. As of March 31, 2026, its shareholders were PTHK (99.75%) and Yayasan Kesejahteraan Karyawan Hutama Karya (0.25%). (ends)