PEFINDO Affirms idAAA(sy) Ratings for Sarana Multi Infrastruktur’s Outstanding Shelf Registered Sukuk Mudharabah

Pemeringkat Efek Indonesia (PEFINDO) has affirmed the ‘idAAA(sy)’ ratings of Indonesian state owned infrastructure development entity Sarana Multi Infrastruktur’s (SMI) Shelf Registered Sukuk Mudharabah (Sukuk). The Sukuk ratings include SMI’s Sukuk Mudharabah I Phase I Year 2018 Series A (IDR 680 billion) and Series B (IDR 320 billion), as well as Sukuk Mudharabah I Phase III Year 2019, consisting of Series B (IDR 417 billion), Series C (IDR 84 billion), and Series D (IDR 76 billion). In addition, the ratings agency has affirmed the corporate rating of the company at ‘idAAA/Stable’ and several outstanding debt securities issued at ‘idAAA’.

Ratings Rationale

The ratings reflect the company’s abilit...