PEFINDO has assigned its idAA rating with stable outlook to PT Kereta Api Logistik (KA Logistik)

(June 26, 2026)--The rating reflects the strong likelihood of support from the parent company, PT Kereta Api Indonesia (Persero) (KAI, idAAA/Stable), strong competitive position in rail-based logistics, and strong financial profile. The rating is constrained by the tight competition and limited pricing flexibility, as well as risks related to project execution.

The rating may be raised if KA Logistik successfully executes its strategic plan, as reflected by a stronger market position, which translates to higher-than-expected revenue and EBITDA on a sustained basis. The rating may be lowered if KA Logistik adopts a significantly more aggressive financial policy, as evidenced by significantly higher debt than projected without being compensated by stronger EBITDA prospects. The rating may also be under pressure if there is an adverse change in the degree of importance toward the parent company.

KA Logistik conducts business in the field of rail-based logistics, transporting a wide range of goods, including coal, cement, and general cargo containers in Java and South Sumatra. As of March 31, 2026, the Company’s shareholders were PT Kereta Api Indonesia (Persero) (99.3%) and Yayasan Pusaka (0.7%). (ends)