PEFINDO Affirms ‘idAAA(sy)’ Rating of Astra Sedaya Finance’s Oustanding Sukuk Mudharabah I/2018

Pemeringkat Efek Indonesia (PEFINDO) has affirmed the ‘idAAA(sy)’ rating of Indonesian financial services provider Astra Sedaya Finance’s (ASF) IDR 175 billion Shelf Registered Sukuk Mudharabah I Phase I Year 2018 Series B, which is set to mature in May 2021. In addition, the ratings agency has affirmed the corporate rating of the company at ‘idAAA/Stable’ and several debt securities issued at ‘idAAA’.

Ratings Rationale

The ratings reflect ASF’s importance to Astra International (ASII or Astra Group), which is rated BBB+/Negative by Standard & Poor’s. In addition, the ratings reflect ASF’s robust position in the car financing market and strong capitalisation. The strength...