JAKARTA: Indonesian rating agency PT Pemeringkat Efek Indonesia affirmed its "idAA+" ratings of Perum Pegadaian and the company's outstanding bonds X, XI, XI, and XIII with a "stable" outlook.
Analysts at Pemeringkat Efek Indonesia (Pefindo) Hendro Utomo and Dimas RIzki Aditya, in a press release today, said that the ratings reflect strong support from Government of Indonesia, the company's superior position in pawn service business as well as very strong asset quality and profitability indicators.
The ratings are constrained by worsening asset quality stemming from non-pawn services.
Perum Pegadaian engages in pawn service and micro lending business, supported by 13 regional offices and 4,920 outlets located throughout the country as of December 31, 2010. The company is 100% owned by government. (NOM)
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Source: http://www.bisnis.com/business/26242-peru-pegadaians-bond-ratings-affirmed-at-idaa
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