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  • Strong Fundamentals and Become the National Biggest Airport Operator, Angkasa Pura II Maintain the highest predicate idAAA

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Latest news about PT Angkasa Pura II (Persero)

Strong Fundamentals and Become the National Biggest Airport Operator, Angkasa Pura II Maintain the highest predicate idAAA

05 Sep 2019

Jakarta - Pefindo assigns the highest rating of idAAA to PT Angkasa Pura II (Persero), as well as corporate bonds namely Bonds I in 2016 and Phase I Sustainable Bonds in 2018.

In its statement, Pefindo stated that the Company's rating reflects strong government support for PT Angkasa Pura (Persero) as the largest national airport operator, and relatively stable profitability margins.

The 2016 Bond I in the amount of Rp2 trillion, which is also ranked idAAA, is Angkasa Pura II's first investment instrument in the capital market and is issued in three series, namely Series A, Series B and Series C.

IdAAA's rating is also assigned to Phase I Sustainable Bonds 2018 in Angkasa Pura II issued with a value of Rp750 billion, divided into two series, namely Series A worth Rp200 billion with a 3-year tenor with an interest rate of 8.65% per year, then Series B valued at Rp550 billion with a 5-year tenor with a fixed interest rate of 8.95% per annum.

"The outlook for the Company's rating is stable," Pefindo wrote in its statement.

This latest idAAA rating is valid for the period 2 September 2019 to 2 September 2020. Previously, Pefindo also gave idAAA rating to PT Angkasa Pura II and Bond I / 2016 for the period 1 March 2018 to 1 March 2019.

Pefindo explained that the obligor rated idAAA was the highest rating given by PEFINDO. The obligor's ability to meet its long-term financial commitments, relative to other Indonesian obligors, is superior.

Monitoring of the rating of Angkasa Pura II, Bonds I and Sustainable Bonds is determined based on data and information from Angkasa Pura II as well as unaudited financial statements as of 30 June 2019 and financial statements as of 31 December 2018.

Finance Director of PT Angkasa Pura II (Persero) Bayu Rafisukmawan said, although there are challenges that affect the company's revenue, the company's fundamentals are currently quite strong supported by business prospects that are still growing in the future.

"At present Angkasa Pura II manages 16 airports and will increase 3 more airports in the near future, so that in total we will manage 19 airports. Government support for Angkasa Pura II is also very strong in expanding air transportation connectivity. "

"Angkasa Pura II's business growth in the future is still very promising, moreover we are developing a portfolio through subsidiaries to accelerate revenues from inorganic businesses such as property, logistics and retail. In addition, of course our airport management business will be broader along with the Go Global roadmap, "explained Bayu.

Regarding fundamentals, in 2018 Angkasa Pura II managed to record revenues of Rp9.48 trillion. Meanwhile in Semester I / 2019, the company's revenue based on unaudited financial statements reached Rp4.43 trillion.