Aneka Tambang and Wika Realty Rating Got Slashed

On rating front, Pemeringkat Efek Indonesia (Pefindo), local rating agency, downgraded two companies last week; Aneka Tambang, Tbk (ANTM:IJ) and Wika Realty. Aneka Tambang was lowered to A-/negative (from A/negative) on the back of weakening business margin due to the decline ferronickel prices amid increasing funding needs for the expansion of capacity of ferronickel plant in Pomalaa, Southern Sulawesi. While Wika Realty got slashed to BBB+/stable (from A-/Negative) driven by weakening capital structure and cashflow protection as a result of weak property sales amidst domestic economic slowdown.

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