Aneka Tambang Rating Downgraded to idBBB+ from idA-

Pemeringkat Efek Indonesia (Pefindo) has downgraded the rating for Aneka Tambang, Tbk (ANTM IJ) to idBBB+/Stable from idA-/Negative, underpinned by the weaker nickel prices which then pressures its already weak profitability following the ban on exports of unprocessed mineral ores. The company has high debt level used to finance the construction of its downstream processing plants.  The outlook was however upgraded to stable from negative as its net gearing ratio seen improving after right issue, higher land value following asset revaluation and reduced pressure on its cash flow stemming from improved sales from domestic market.

Aneka Tambang Required Fund of IDR2.8Trn for Capital Expenditure

Weekly Rating Action on Positive Note

One Downgrade, One Negative Outlook

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