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PNM received idAA rating from Pefindo
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T Permodalan Nasional Madani (PNM) received an idAA rating for the Shelf Registration Bond III Phase I Year 2019 Series A for as much as Rp 1.401 billion (US$313,247.83) from PT Pemeringkat Efek Indonesia (Pefindo), which was valid until May 28.
PNM will pay off the debt, supported by cash and cash-equivalent to Rp 4 trillion, with an average monthly installment of Rp 4 trillion, Pefindo said. PNM also has a concession for banking withdrawals for a total of Rp 10.6 trillion by the end of Dec. 2021.
The effect of debt with the idAA rating is slightly different from the higher ratings given and offers more ability to meet long-term financial commitments compared to other debtors.
For further information, up until April 8, PNM has distributed financing amounting to as much as Rp 121.37 trillion to PNM Mekaar customers, equivalent to 11.7 people. PNM currently has 3,673 service offices throughout Indonesia that serve SMEs in 34 provinces, 443 districts/cities and 5,006 subdistricts.
