Pefindo Assigns idAA- Rating to Chandra Asri's Rp6 Trillion Bond Issuance

Strong Rating Reflects Petrochemical Leadership

PT Pemeringkat Efek Indonesia (Pefindo) has assigned an idAA- rating to PT Chandra Asri Pacific Tbk's (TPIA) latest bond issuance, known as Obligasi Berkelanjutan V, with a maximum value of Rp6 trillion. This rating decision underscores TPIA's dominant position in Indonesia's petrochemical industry, backed by its strategic partnerships and integrated business operations.

Key Factors Driving the Rating

The idAA- rating reflects several key strengths of Chandra Asri:

1. Market Leadership: TPIA maintains a leading position in the Indonesian petrochemical market
2. Strategic Synergies: Strong collaboration with business partners enhances its market position
3. Integrated Operations: Vertically integrated business model with adequate supporting facilities
4. Financial Strength: Robust liquidity and financial flexibility

Bond Proceeds Utilization

The proceeds from this bond issuance will be used to finance Chandra Asri's working capital needs, supporting the company's ongoing operations and business expansion plans. The bond issuance has been structured as part of TPIA's sustainable financing strategy.

Reaffirmation of Corporate Rating

In conjunction with the bond rating, Pefindo also reaffirmed TPIA's corporate rating at idAA- with a stable outlook. This reaffirmation indicates Pefindo's confidence in Chandra Asri's ability to maintain its strong market position and financial health. The stable outlook suggests that TPIA is expected to continue performing well in the near future.