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Adhi Karya gets 'A' rating from Pefindo
Credit rating agency PT Pemeringkat Efek Indonesia (Pefindo) awarded an âAâ rating to state construction company PT Adhi Karyaâs (ADHI) existing conventional and Islamic bonds, similar to that of last year
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redit rating agency PT Pemeringkat Efek Indonesia (Pefindo) awarded an 'A' rating to state construction company PT Adhi Karya's (ADHI) existing conventional and Islamic bonds, similar to that of last year.
The bonds amount to a total of Rp 1.5 trillion (US$130.19 million).
'The rating means that Adhi has a good capacity in financing its business,' said Pefindo analyst Haryo Koconegoro on Tuesday. He attributed Adhi's ability to maintain its rating to its strong position in the domestic construction industry with a market share of 35 percent.
However, he said, Adhi's rating could decline if its debts continued to grow.
According to Haryo, Adhi's debts stood at Rp 1.7 trillion in 2013, up 79 percent from Rp 948 billion in 2012.
