JAKARTA – PT Petrindo Jaya Kreasi Tbk (CUAN) has been assigned an “idA” rating with a stable outlook by Pemeringkat Efek Indonesia (Pefindo). This rating is valid from March 11, 2025, to March 1, 2026.

In its official statement, quoted on Wednesday (19/3), Pefindo said that the rating reflects CUAN’s position as a well-integrated mining company with strong business diversification.

However, the rating is constrained by risks related to the development of new projects, its moderate capital structure, and exposure to fluctuations in coal prices and adverse weather conditions.

The rating may be upgraded if CUAN successfully operates its projects but could be downgraded due to rising debt or weakening coal prices.

CUAN operates three coal mines and has six more under development. In addition, CUAN controls PT Petrosea Tbk (PTRO) and owns other subsidiaries in the mining services industry. CUAN’s adjusted total assets reached IDR 1.64 trillion as of December 2024.

“An obligor with an ‘idA’ rating has strong capacity to meet its long-term financial commitments compared to other obligors in Indonesia. However, the obligor is more vulnerable to changes in economic and environmental conditions than obligors with higher ratings,” stated Pefindo.

Pefindo emphasised that this rating is a forward-looking opinion regarding CUAN’s ability to meet its financial obligations, based on the company’s latest financial data used during the rating process. (EF/ZH)