Pefindo assigns “idA-” ratings for Voksel Electric
JAKARTA – PT Pemeringkat Efek Indonesia (Pefindo) assigned an “idA-” rating for PT Voksel Electric Tbk (VOKS) along with its proposed bonds with a maximum principal of Rp 500 billion. The bond proceeds will be used to finance the company’s working capital.
In addition, Pefindo also set the outlook for the corporate rating of Voksel Electric at a stable level. In its report, Pefindo wrote that the rating reflects VOKS’ strong position in the market supported by production facilities, strong electricity demand in Indonesia and adequate cash flow.
This rating is valid from 16 September 2019 to 1 September 2020. Until the end of June 2019, VOKS’ total net sales reached Rp 1.43 trillion with net income of Rp 108.6 billion. (LM)