Pefindo Grants ANTM the idA

By Editorial Team 16/09/2019
Summary

PT Pemeringkatan Efek Indonesia (Pefindo) has upgraded the Bond I/2011 rating of PT Aneka Tambang Tbk (ANTM) from “idA-“ to “idA” with category A cash flow coverage ratio while the company’s rating prospect considered as stable.

Pefindo revealed that the rating upgrade is the result of ANTM’s plan to increase the production capacity of Pomalaa and Halmahera factories which will operate at the beginning of 2020. The factory capacity increases will hypothetically push down the company’s cash cost even lower. The government’s policy on nickel ore imports will also improve the company’s performance.

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