JAKARTA. Pemeringkat Efek Indonesia (Pefindo) has assigned an “idA” rating to General Obligations (GO) of PT Cimanggis Cibitung Tollways (CCT) and PT Buana Finance Tbk (BBLD).

In its official statement, Pefindo said that the rating given to GO CCT reflects the strong economy in CCT's service area and strong operating cash flow visibility. However, Pefindo considers the rating of this BUMN Karya subsidiary to be limited by a weak financial profile and exposure to traffic volume volatility.

Meanwhile, the rating given by Pefindo to BBLD reflects strong capital support, as well as an above-average business position, and an adequate liquidity profile. However, BBLD's rating is still limited by moderate profitability and asset quality.

The GO rating given by Pefindo to CCT and BBLD is valid from September 2, 2024 to September 1, 2025.

According to idnfinancials.com data, currently 55% of CCT shares are owned by PT Sarana Multi Infrastruktur (Persero) or SMI. Then 35% of the shares are owned by PT Waskita Toll Road (WTR), and 10% are owned by the Bakrie Group.

While 67.60% of BBLD shares are owned by PT Sari Dasa Karsa. Then 5.08% of the shares are owned by Bank of Singapore Ltd. and the rest are owned by retail investors. (KR/LM)