PEFINDO affirms "idAA-" rating and improves outlook from "stable" to "positive" for PT AKR Corporindo

JAKARTA, 11th Oct 2016

Credit rating agency PEFINDO has affirmed its “idAA-“ rating for PT AKR Corporindo (AKRA) and its Bond. However the rating outlook is revised to “positive” from “stable” in anticipation of potential improvement in the Company’s capital structure and cash flow protection measures along with the result of optimal cost management in its fuel distribution business as well as potential higher revenue from the land sales of its industrial estate, without incurring any significant debt incurred by the Company.

The rating reflects following

• Steady demand for fuel in Indonesia
• Company’s extensive logistic infrastructure network
• Strong cash flow protection & liquidity

The above strengths are partly offset by risks related to further development in the industrial estate and exposure to risk of downturn in the mining sector .

The full press release can be downloaded from Company’s website : http://www.akr.co.id/gcg (Bond Information)