Rini said the rise in the rating of the debts of the five state companies indicated global investors` confidence in the country`s strategic projects.
The state companies are the spearheads in the development of energy and transportation infrastructure projects, Rini said here on Monday.
Global investors have confidence that the country`s strategic projects have been carried out professionally such as the program to build power plants with a total capacity of 35,000 megawatts and development of ports infrastructure.
Moody`s raised the rating of the Indonesian debts to Baa2 with the prospect of stable on 13 April 2018 from earlier Baa3 with positive prospects.
The five state companies issuing bonds included PT Perusahaan Listrik Negara (PLN), PT Perusahaan Gas Negara Tbk (PGN) , PT Pertamina , PT Jasa Marga Tbk, and PT Pelabuhan Indonesia II (Pelindo II).
Moody`s said the increase in the rating of the debts of PLN, Pelindo II and Jasa Marga followed to baa2 the rise in Indonesian debt rating to Baa2. The rating of the debt of PGN followed the rise in the rating of the debts of its parent company Pertamina from Baa3 to Baa2.
The rating of the short term debts of PLN also rose to Baa2 from Baa3 earlier with the prospects becoming stable from positive earlier.
The rating of the debt in senior bond without collateral of PLN through its subsidiary Majapahit Holding BV rose from Baa3 to Baa2.
Senior analyst of Moody`s,Abhishek Tyagi, said the increase in the rating of the debts of PLN reflected strategic position of the country`s only power provider, including its domination in power production, distribution and transmission.
Pertamina and PGN gains from the rise in the debt rating of Indonesia after it was named as the holding company for state-owned oil and gas companies.
"The increase in the rating of Jasa Marga reflects our expectation of strong support from the government as the majority shareholder of the toll road developer and operator, considering its important role in the government`s plan to develop state transport infrastructure especially toll road projects," Ray Tay, a senior Credit Officer of Moody`s.
The increase in the debt rating of Pelindo II reflects the important role of the company in the maritime sector especially as it is the operator of the country`s largest port Tanjung Priok.
The rating of Pelindo II rose did not follow the rise in the Indonesian debts rating as its rating was raised earlier, reflecting the importance of its role.
(AS)
(T.SYS/A/H-ASG/A014)
Reporter: antara
Editor: Heru Purwanto
Copyright © ANTARA 2018
