Fitch has assigned PT Sarana Multi Infrastruktur (SMI) a long-term, foreign- and local-currency rating of ‘BBB-‘ and short-term foreign-currency rating of ‘F3’.
At the same time SMI’s national long-term rating has been upgraded to ‘AA+(idn)’ from ‘AA(idn)’.
The outlook on the long-term ratings is stable.
“SMI’s international ratings are equalized with the Indonesia sovereign (BBB-/Stable), reflecting ownership by the central government through the Ministry of Finance and the important strategic role the entity has in the development of Indonesia’s infrastructure,” Fitch said in a release.
“SMI’s national rating was upgraded as a result of the re-assessment of the link with the government under Fitch’s Rating of a Public Sector Entity methodology.”