Bisnis.com, JAKARTA – PT Pemeringkat Efek Indonesia (Pefindo) awarded PT Dayamitra Telekomunikasi Tbk. (MTEL) an idAAA rating, with a stable outlook for the company’s rating. This idAAA rating implies the highest rating accorded by Pefindo to obligors. According to Pefindo, the obligor’s ability to fulfill its long-term financial commitments surpasses the other Indonesian obligors. “The company’s rating reflects its exceptionally strong market position, robust revenue visibility with long-term contracts originating from clients possessing powerful business profiles, and an exceptionally strong financial profile,” as stated in Pefindo’s release on Sunday (5/22/2022) . However, Pefindo noted that this rating is limited by the relatively lower tenancy ratio compared to similar companies. Pefindo further mentioned that MTEL’s rating could be lowered if its market position significantly weakens. Moreover, the rating could also be lowered if revenue and/or EBITDA fall significantly below the company’s targets, or if the company’s debt position exceeds projections without a corresponding increase in EBITDA. This condition could negatively impact the capital structure and cash flow protection of the Telkom subsidiary. Stemming from Mitratel’s financial report in the first quarter of 2022, it is reported that short-term business debts to related parties reached IDR 27.28 billion, and to third parties reached IDR 1.15 trillion. Meanwhile, the company’s long-term liabilities due within one year amount to IDR 2.06 trillion. Previously, Mitratel’s Investment Director and Corporate Secretary, Hendra Purnama, said that the company had prepaid some of its debts through its cash this year. Hendra conveyed that Mitratel currently owns sufficient cash to settle all impending loan repayment obligations. “This month, we have disbursed payments worth more than IDR 2 trillion, so we have paid off quite a lot as our cash flow remains strong,” said Hendra to Bisnis, Saturday (3/12/2022). He further elaborated that, to alleviate the financial burden, MTEL has undertaken refinancing measures with funds sourced from cash flow. This refinancing measure was executed in anticipation of an increase in JIBOR rates, as most of the company’s loans are JIBOR plus margin. “So we have discussed with the bank, converting the variable to a fixed rate,” he said.
Sumber : https://market.bisnis.com/read/20220522/192/1535639/pefindo-sematkan-peringkat-idaaa-ke-mitratel-mtel. https://pefindo.com/pageman/page/repdesc?t=desc&id=13256
