Pegadaian’s maturing bond affirmed at “idAAA”

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Press Release May 18 , 2021 PT Pegadaian (Persero) Analysts: Handhayu Kusumowinahyu / Putri Amanda Phone/Fax/E-mail: (62-21) 50968469 / 50968468 / handhayu.kusumowinahyu@pefindo.co.id / putri.amanda@pefindo.co.id CREDIT PROFILE Corporate Rating FINANCIAL HIGHLIGHTS idAAA/Stable Rated Issues SR Bond IV Phase II/2020 Serie A idAAA Sukuk Mudharabah I Phase II/2020 Serie A idAAA(sy) Rating Period May 11, 2021 – July 18, 2021 Rating History MAR 2021 MAY 2020 JAN 2020 JAN 2019 JAN 2018 JUN 2017 APR 2017 APR 2016 idAAA/Stable idAAA/Stable idAAA/Stable idAAA/Stable idAAA/Stable idAAA/Stable idAAA/Stable idAA+/Stable As of/for the year ended Total assets [IDR bn] Total loans disbursed [IDR bn] Total outstanding loans [IDR bn] Total equity [IDR bn] Net interest revenue [IDR bn] Net income [IDR bn] Cost to income [%] Operating profit margin [%] ROAA (including off-balance) [%] NPR/outstanding loans [%] Equity/total assets [%] Total debt/equity [x] Short-term liquidity ratio [%] USD exchange rate [USD/IDR] Mar-2021 (Audited) 72,193.8 42,041.9 57,836.8 25,511.2 3,027.2 705.5 60.4 24.6 *3.9 9.0 35.3 1.6 144.8 14,572 Dec-2020 Dec-2019 Dec-2018 (Audited) 71,469.0 165,006.8 57,010.6 24,603.6 11,497.1 2,026.3 59.3 18.4 3.0 3.8 34.4 1.7 140.1 14,105 (Audited) 65,324.2 145,634.9 50,422.3 23,060.3 10,300.9 3,108.1 59.3 31.5 5.3 4.9 35.3 1.6 127.6 13,901 (Audited) 52,791.2 131,427.2 40,970.3 20,116.5 8,953.8 2,775.5 58.8 31.7 5.5 3.4 38.1 1.5 158.5 14,481 *annualized ROAA=return on average assets. NPR = non-performing receivables of 30 days overdue and above. The above ratios have been computed based on information from the company and published accounts. Where applicable, some items have been reclassified according to PEFINDO’s definitions. Pegadaian’s maturing bond affirmed at “idAAA” PEFINDO has affirmed its “idAAA” rating for PT Pegadaian (Persero) (Pegadaian)’s Shelf Registration Bond IV Phase II/2020 Serie A of IDR1,055 billion and its “idAAA(sy)” rating for its Sukuk Mudharabah I Phase II/2020 Serie A of IDR316.5 billion, both maturing on July 18, 2021. Pegadaian’s readiness to repay its maturing debt instrument is supported by its cash and bank placement of IDR503.6 billion as of the end of March 2021, monthly internal cashflow generation of around IDR11 trillion, and unused portion of bank lines of around IDR12.3 trillion. A debt security rated idAAA has the highest rating assigned by PEFINDO. The obligor’s capacity to meet its long-term financial commitments on the debt security, relative to other Indonesian obligors, is superior. A syariah based financing instrument rated idAAA(sy) has the highest rating assigned by PEFINDO. The issuer’s capacity to meet its longterm financial commitments under the syariah financing contract, relative to other Indonesian issuers, is superior. Pegadaian provides pawning and micro-lending services through a network of 12 regional offices and 4,086 units throughout Indonesia. It is fully owned by the Indonesian government. DISCLAIMER The rating contained in this report or publication is the opinion of PT Pemeringkat Efek Indonesia (PEFINDO) given based on the rating result on the date the rating was made. The rating is a forward-looking opinion regarding the rated party’s capability to meet its financial obligations fully and on time, based on assumptions made at the time of rating. 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PEFINDO has the right to withdraw ratings if the data and information received are determined to be inadequate and/or the rated company does not fulfill its obligations to PEFINDO. For ratings that received approval for publication from the rated party, PEFINDO has the right to publish the ratings and analysis in its reports or publication, and publish the results of the review of the published ratings, both periodically and specifically in case there are material facts or important events that could affect the previous ratings. Reproduction of the contents of this publication, in full or in part, requires written approval from PEFINDO. PEFINDO is not responsible for publications by other parties of contents related to the ratings given by PEFINDO. http://www.pefindo.com May 2021