PEFINDO has affirmed its idA(sy) rating for PT Medco Power Indonesia
Monday, March 18 2024 - 04:45 PM WIB
(March 18, 2024)--PEFINDO has affirmed its idA(sy) rating for PT Medco Power Indonesia (MEDP)’s Sukuk Wakalah II Seri B Year 2019 of IDR7.0 billion that will be due on May 23, 2024. MEDP plans to repay the matured debt using the internal funds, with cash balance of IDR2.2 trillion as of September 30, 2023.
MEDP is an independent power producer (IPP) focusing on clean energy power plants, mainly gas, geothermal, and renewable, supplying electricity to state-owned electricity company, PT Perusahaan Listrik Negara (Persero) (PPLN, idAAA/Stable), especially in the western part of Indonesia. It also provides operation and maintenance (O&M) services, mainly through TJB Power Services. As of December 31, 2023, its shareholders were PT Medco Power Internasional (51.0%) and PT Medco Energi Internasional Tbk (49.0%). (ends)