Pefindo Affirms idB Waskita Precast Beton Rating, Stable Prospects

Jakarta, 13 September 2024 – The Indonesian Securities Rating Agency (Pefindo) has again confirmed the idB rating for PT Waskita Beton Precast Tbk (WSBP), including for all bonds that have been issued. The company's prospects are considered stable, even amidst challenges in the industrial sector and weak financial conditions.

The idB rating given reflects Waskita Beton Precast's strong position in the precast concrete industry in Indonesia. However, the company still faces limitations in terms of a financial profile that is not yet optimal and a business environment that is easy to change.

"Pefindo sees an opportunity for Waskita Beton to increase its ranking if the company is able to carry out a comprehensive business transformation, including improving operational management, maintaining sustainable cash flow, and fulfilling financial obligations in accordance with the homologation agreement," wrote Pefindo in its official statement.

On the other hand, Pefindo warned that a downgrade could occur if the company's operational performance declines from existing projections, or if cash flow conditions worsen so that Waskita Beton fails to fulfill its financial obligations.