PT Petrosea Tbk (IDX: PTRO) announced that the company received a corporate rating of idA+ (Single A Plus; Stable Outlook) from PT Pemeringkat Efek Indonesia (PEFINDO) on Tuesday, September 17, 2024. The rating was based on data and information from the Company, as well as the Audited Financial Statements as of June 30, 2024, and December 31, 2023.

“This rating result reflects our increasingly strong financial fundamentals, sustainable capital structure, and prudent capital expenditure on newly acquired contracts,” said Kartika Hendrawan, Chief Investment Officer of PT Petrosea Tbk.

“PEFINDO has assigned an idA+ rating with a stable outlook to PT Petrosea Tbk. The rating reflects Petrosea's strong business position, integrated services, and solid financial profile,” she continued.

According to PEFINDO’s rating, an obligor with an idA rating has a strong capacity relative to other Indonesian obligors to meet its long-term financial commitments. However, this capacity may be more vulnerable to adverse changes in economic conditions than higher-rated obligors. The plus (+) sign indicates that the rating is relatively strong and above the average within its category.

All of Petrosea’s operational and financial performance targets are supported by a strong culture of Occupational Safety, Health & Environment (K3L) through the implementation of zero accident targets, operational excellence, continuous improvement, as well as risk management and Good Corporate Governance (GCG) as the backbone of the Company’s sustainability.