Fitch rates Mitra Pinasthika notes AA

Fitch Ratings said it assigned an AA(idn) rating to PT Jaccs Mitra Pinasthika Mustika Finance Indonesia’s phase I third medium-term note issuance of 2022.

“AA national long-term ratings denote expectations of a very low level of default risk relative to other issuers or obligations in the same country or monetary union. The default risk inherently differs only slightly from that of the country's highest-rated issuers or obligations,” Fitch said in a press release.

Phase I consists of Rp 150 billion of three-year unsecured notes with an interest rate of 6.52%. The notes are due in September 2025. There will be a second phase of up to Rp 150 billion of three-year notes, which will be priced and issued later.

The outlook is stable.

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