JAKARTA: PT Pemeringkat Efek Indonesia (Pefindo), a securities rating agency, upgraded bonds and corporate ratings of PT BCA Finance to AA from AA- with a stable outlook.
In today’s research, an analyst of Pefindo Hendro Utomo confirmed that great support from controlling shareholders, improved business position, and excellent asset quality are essentials for assigning the rating upgrade.
“However, the rating is limited by a tight competition in financing business segment,” Hendro stated in his research, yesterday.
President Director of BCA Finance Roni Haslim declined to comment over the rating upgrade as that is prerogative right of the rating agency.
Meanwhile, the existing bonds are II/2007 and III/2010 bond series. Then, the subordinated bond I/2010 was also upgraded one notch to AA- from A+.
Both III/2010 bond and I/2010 subordinated bond were issued early of 2010 amounting IDR600 billion with PT Kresna Graha Sekurindo Tbk, PT OSK Nusadana Securities Indonesia, and PT DBS Vickers Securities Indonesia as the underwriters. (T01/NOM)
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