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Sewatama idBB+ rating afirmed by Pefindo, outlook ‘Stable’

JAKARTA (RambuEnergy.com) – PT Sumberdaya Sewatama (IDX:SSMM) has been officially approved by PT Pemeringkat Efek Indonesia (Pefindo) idBB + rating with Outlook Stable for 2017 – 2018.

In addition, referring to the certificate of monitoring result received by the Company on Monday, September 11, 2017, PEFINDO also assigned idBB + rating for B series I bonds of Rp581,000,000,000 (five hundred eighty one billion rupiahs) and idBB + (sy) for the Sukuk Ijarah amounting to Rp 200,000,000,000 (two hundred billion rupiah) issued by the Company through the stock exchange in 2012.

These results are unchanged, in accordance with the special review conducted by Pefindo in the period of May 29, 2017 – Sept. 1, 2017, the company said in a statement.

According to Nadia Diposanjoyo, Head of Corporate Affairs & Marketing of PT Sumberdaya Sewatama, this determination occurs because the electricity industry in recent years is still in severe challenges, thus disrupting the business performance of the Company.

These challenges include changes in electricity policy directions, high exchange rates and operational efficiency challenges.

“The changes that we have in the industry will be weeded wisely and we are trying harder to be able to quickly adjust to the current conditions,” added Nadia.

To improve this, a number of strategic steps have been and will continue to be done by The Company. Several steps include, among others, debt restructuring and operational efficiency strategies in various lines of the company, organizational determination strategy, and business diversification.

“In addition to doing that strategy, we also consolidate with companies that take shelter in the group of PT ABM Investama, Tbk, and also Tiara Marga Trakindo Group,” she concluded. (*)

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