Refinancing Portion “Secured”, Waskita Rating Increases “Stable Outlook” Level.

Refinancing Portion “Secured”, Waskita Rating Increases “Stable Outlook” Level.

PT Waskita Karya (Persero) Tbk received a rating upgrade as an idBBB / Stable Outlook Company based on a Special review by PT Pemeringkat Efek Indonesia (“PEFINDO”) for the period 22 April 2022 to 1 November 2022.

Previously, Waskita was at the idBBB / Negative Outlook level. In this Special review, PEFINDO has also rated the outstanding Waskita bonds, the idAAA(gg) Government Guarantee for the 2021 Bonds III Series A and Series B, and idBBB for other bonds. An obligor-rated idBBB can meet its long-term financial commitments.

This year the Company continued its corporate actions in the form of issuance of bonds and Sukuk with Government guarantees and received an idAAA(gg) Government Guarantee rating from PEFINDO.

With the support of government guarantees, Waskita's book building reached Rp3.28 trillion, and the Sukuk portion was oversubscribed. Proceeds from this corporate action will be Used for refinancing and strengthening the working capital of the Kayu Agung – Palembang – Betung Toll Road Project, which is Planned to operate in 2023. The issuance of these bonds and Sukuk are jointly guaranteed by the Government through the Ministry of Finance and PT PII for all principals as follows coupons/profit sharing.

The Company's Director of Finance and Risk Management, Taufik Hendra Kusuma, said that with the success of the corporate action through the issuance of bonds and Sukuk this year, the Company was able to refinance and fulfill its commitments to investors for bonds that will mature this year. High investor interest indicates a Positive market perception of Waskita.

Waskita Karya

Waskita Karya

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