Fitch Affirms WOM Finance Rating with Stable Outlook

Credit Rating Upgrade Highlights Financial Strength

WOM Finance, a leading multifinance company in Indonesia, has received a long-term national rating of AA+(idn) from Fitch Ratings, with a stable outlook for the period between November 21, 2025, and November 21, 2026. This rating represents an upgrade from the previous year's AA(idn) rating, indicating a very low expectation of default risk relative to other Indonesian issuers. The short-term national rating was maintained at F1+(idn), demonstrating the strongest capacity for timely payment of financial commitments.

Financial Performance Analysis

As of September 2025, WOM Finance reported total liabilities of Rp5.39 trillion, representing a 6.73% year-on-year increase from Rp5.05 trillion. The company's total equity stood at Rp1.91 trillion, growing 1.06% year-on-year. Consequently, the combined liabilities and equity reached Rp7.31 trillion, marking a 5.33% year-on-year growth. Despite these balance sheet developments, WOM Finance reported a profit of Rp103.45 billion for Q3/2025, representing a 31.63% decrease from Rp151.3 billion in the previous year.

Rating Rationale and Implications

The AA+(idn) rating reflects Fitch's assessment of WOM Finance's strong financial profile and low default risk. The '+' modifier indicates a strong liquidity profile within the rating category. This upgrade positions WOM Finance favorably within Indonesia's multifinance sector, potentially enhancing its market standing and investor confidence. The stable outlook suggests that Fitch expects WOM Finance to maintain its financial stability through the coming year.