Fitch Affirms Aneka Gas's Ratings at 'A-(idn)'; Outlook Stable
By Fitchratings.com27 February 2020
Fitch Ratings - Jakarta - 27 Feb 2020: Fitch Ratings Indonesia has affirmed PT Aneka Gas Industri Tbk's National Long-Term Rating at 'A-(idn)' with a Stable Outlook. At the same time, Fitch has affirmed Aneka Gas's Indonesian rupiah bonds and sukuk ijara National Ratings of 'A-(idn)'. A full list of rating actions is at the end of this commentary.
Aneka Gas's ratings reflect its entrenched market position, stable margins and diversified revenue base. The company's operating profile could support a higher rating; however, Aneka Gas's ratings are constrained by its leverage, which has remained high due to its expansionary capex.
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