Aneka Gas's Proposed Rupiah-Denominated Sukuk Rated 'A-(idn)' by Fitch Indonesia

A National Long-Term Rating of 'A-(idn)' has been assigned by Fitch Ratings Indonesia to PT Aneka Gas Industri Tbk's (Aneka Gas) proposed Rupiah-Denominated Sukuk of an intended IDR 396 billion (USD 27.6 million) under its IDR 1 trillion (USD 69.6 million) Sukuk Programme on the 1st of March 2022.

Why it Matters?

Aneka Gas had acquired significant assets from industrial and medical gas provider, Samator Group in March 2021, leading to expectations of the stabilisation of its capital expenditures (CapEx), faster revenue growth and improved profitability as its market-leading position is anticipated to decrease and strengthen on the back of external parties purchases. The company’s outlook has been revised to positive reflecting a healthy capital...