TBIG’s Rating Downgraded to Ba3 Whilst Parent Rating SRTG Lowered to BBB+
Tower Bersama Infrastructure’s Tbk (TBIG:IJ) rating was downgraded to Ba3 from Ba2 by Moody’s. Moody’s also cut the rating on its USD 300 million notes issued by TBG Global Pte Ltd, a wholly owned TBIG’s subsidiaries, to the same level. The outlook rating is stable. TBIG’s leverage which surged to 6.3x as a result of.
Read More...Angkasa Pura II Looking to Issue IDR1–2Trn Bond in 2016
After postponing the bond issuance this year, PT Angkasa Pura II plans to release IDR1–2Trn bond in March or April 2016. The company will be using 2015’s financing statement for bond issuance purposes. In the next two years, Angkasa Pura II will need IDR8–10Trn capital to develop some airport infrastructure such as i) improvement of.
Read More...SMAR’s Outlook Revised to Negative
Pemeringkat Efek Indonesia (Pefindo) has revised Sinar Mas Agro Resources and Technology Tbk (SMAR:IJ) outlook to negative from stable. The outlook revision reflects SMAR’s weakening capital structure and cash flow protection. SMAR booked lower EBITDA margin during 9M15 due to continued low CPO price, while its debts increase partially because of foreign exchange debt following.
Read More...Kalbe Farma Buy On Emerging Value
The Indonesian Government is at an early stage of evaluating a few schemes to possibly control prices of licenced and branded generic drugs circulated in Indonesia, by considering upper price caps for those drugs and/or opening up the Indonesian pharmaceutical industry by allowing more competition in the market to enhance industry efficiency. As the potential.
Read More...Mixed Outlook Revision This Week
On the rating action, there were two outlook revision by Pefindo this week: Intiland Development Tbk (DILD:IJ) was revised down to negative from stable and Mayora Indak Tbk (MYOR:IJ) upgraded to stable. The negative outlook on DILD was given to anticipate further weak projected capital structure and cash flow protection measures as a result of.
Read More...Bank Nagari Prices Offering 5y Bond and Sukuk at 10.6% – 11.1%
PT Bank Nagari is offering 10.6% – 11.1% for 5y conventional and sukuk bond with the issue size of IDR 500 bn and IDR 100 bn respectively. Bank Nagari and its conventional and sukuk are rated at A by Pefindo. The book building will be on 8 – 17 Dec 2015 while the public offering.
Read More...Indonesia Media, Drama Fever Drives Audience Share
Media Nusantara was the top gainer in prime time audience share in Nov 2015 (+18% MoM), driven by its RCTI station (+33% MoM). Surya Citra’s audience share in prime time declined by 4% in November, but it has been able to maintain its first position in non-prime time audience share, thanks to Indosiar TV station.
Read More...BFI Finance’s Outlook Revised to Positive
The rating reflects company’s strong performance as one of the largest Indonesia independent multi-finance company. The outlook upgrade was underpinned by Fitch’s expectation that BFI Finance Tbk (BFIN:IJ) will continue to sustain sound financial performance with strong balance sheet to withstand market volatility and macroeconomic headwinds. BFI Finance’s solid financial performance during 9M15 was driven.
Read More...SMRA and WOMF’s Bond Oversubscribed 1.5 – 1.7 Times
Summarecon Agung Tbk (SMRA:IJ) and Wahana Ottomitra Multiartha Tbk (WOMF:IJ) received overwhelming bids for their new bonds offering since their three issues bonds were oversubscribed by 1.5 times – 1.7 times. SMRA received an order of IDR 750 billion – IDR 850 billion for 3y and 5y bond respectively, above IDR 500 billion target. SRMA.
Read More...Indonesia Corporate Sukuk Issuances Reached IDR3.07Trn
Newly issued Indonesia sukuk worth IDR1.5trn by XL axiata Tbk (EXCL:IJ) brought total ytd sukuk issuance to IDR3.07trn, the highest sukuk issuance since the last 10 year. There were 5 sukuk issuers this year where the largest issues released by XL Axiata whereas the sukuk split into 4 series:1y,3y,5y, and 7y. In telecommunication industry, Indosat.
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