Pefindo: Rating of Indonesia Infrastructure Finance’s maturing bond is affirmed at ”idAAA”

(August 25, 2021)--PEFINDO has affirmed its “idAAA” rating to PT Indonesia Infrastructure Finance (IIF)’s Shelf Registered Bond I/2020 Phase II Series B  amounted  IDR570.0  billion  that  will  mature  on  October  28,  2021.  The  Company’s  readiness  to  repay  its  maturing  bond  is supported by its cash and cash equivalents and liquid marketable securities of IDR4.3 trillion at the end of June 2021. 

A  debt  security  rated  idAAA has the highest rating assigned by PEFINDO. The issuer’s  capacity  to  meet  its  long-term  financial commitments on the debt security, relative to other Indonesian issuers, is superior.

IIF  was  established  on January  15,  2010,  as  a  private  non-bank  financial  institution focused on  investing  in  commercially  feasible infrastructure projects. It provides long-term, fund-based products such as senior loans, mezzanine finance, and equity participations,  in  addition  to  non-fund-based  products  such  as guarantees  and fee-based  services. It  had  113  employees  and  one office  as  of  March  31,  2021.  Its  shareholders  are  PT  Sarana  Multi  Infrastruktur  (Persero)  (SMI,  rated  idAAA/stable,  30.00%), International Finance Corporation (IFC, AAA/stable by S&P, 19.99%), Asian Development Bank (ADB, AAA/stable by S&P, 19.99%), Deutsche  Investitions-und  Entwicklungsgesellschaft  mbH  (DEG,  15.12%),  and  Sumitomo  Mitsui  Banking  Corporation  (SMBC, A/stable by S&P, 14.90%). (ends)