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Jakarta, 24 June 2017

Bahasa: Indonesia

 
 
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  Brief Rationale
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  ICRA Indonesia Scale Rating

  Rating News
ICRA Indonesia withdraws ratings of 6 financial companies
ICRA Indonesia withdraws ratings of 4 corporates
Rating List, Updated 31 July 2015
Rating List, Updated 30 June 2015
Rating List, Updated 31 May 2015
ICRA Indonesia withdraws Radiant Utama’s MTN rating, 19 June 2015
ICRA Indonesia affirms Equity Finance and assigns the same [Idr]BBB rating to the new MTN, 15 June 2015
ICRA Indonesia revises Asuransi Himalaya Pelindung’s outlook to stable, 8 June 2015

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  Brief Rationale
Brief Rationale - PT Equity Finance Indonesia, June 15 2015
Brief Rationale - PT Asuransi Himalaya Pelindung, June 8, 2015
Brief Rationale - PT Golden Energy Mines, May 28, 2015
Brief Rationale - PT Dahana (Persero) - March 18, 2015
Brief Rationale - PT Asuransi Eka Lloyd Jaya - March 4, 2015
Brief Rationale - PT Propernas Griya Utama - December 23, 2014
Brief Rationale - PT Panorama Sentrawisata, TBK - November 17, 2014
Brief Rationale - PT Sinar Mas MultiFinance - November 7, 2014

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  Economic Updates
Monthly Economic Review, July/August 2015
Monthly Economic Review, June/July 2015
Monthly Economic Review, May/June 2015
Monthly Economic Review, April/May 2015
Monthly Economic Review, March/April 2015
Monthly Economic Review, February/March 2015
Monthly Economic Review, January/February 2015
Monthly Economic Review, December 2014/January 2015
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  Research
Commentary : Automative Sales: Pressured during Adjustment Period of 2015, May 2015
Press Release :  Automative Sales: Pressured during Adjustment Period of 2015, May 2015
Commentary : Palm Oil Industry, Sustained Supply and Subdued Demand and Pressure on Prices, May 2015
Press Release : Palm Oil Industry, Sustained Supply and Subdued Demand and Pressure on Prices, May 2015
Commentary : ICRA Indonesia :Sustained Demand and Tax Revision Chall, April 2015
  Commentary : ICRA Indonesia :Mining Sector Has Long Way to Recovery, April 2015
  Commentary : ICRA Indonesia :Banking Sector: Underperforming 2014, NPL Concern and Slight Recovery in 2015, April 2015
   Press Release : ICRA Indonesia : Banking Sector: Underperforming 2014, NPL Concern and Slight Recovery in 2015, 9 April 2015
   Press Release : ICRA Indonesia :Residential Estate: Sustained Demand and Tax Revision Challenge, 9 April 2015
  Press Release : ICRA Indonesia : mining sector has long way to recovery, 9 April 2015
Commentary : ICRA Indonesia : Limited Impact of the Ban on Raw Mineral Export, April 2014
Press Release : ICRA Indonesia : Limited Impact of the Ban on Raw Mineral Export, 16 April 2014
Commentary : Banking Sector: Sustained Performance in 2013, but Will Remain Challenging Ahead, March 2014
Press Release : Banking Sector: Sustained Performance in 2013, but Will Remain Challenging Ahead, 19 March 2014
Commentary : Performance and Outlook of Cement industry - Producers Expect Sustainable Infrastructure Projects, January 2014
Press Release : Performance and Outlook of Cement industry - Producers Expect Sustainable Infrastructure Projects, 23 January 2014
Commentary : Performance and Outlook of General Insurance Sector, December 2013
Commentary : ICRA Indonesia’s Portfolio Performance on Multifinance Sector. December 2013
Commentary : Performance and Outlook of Banking Sector 2013-2014. December 2013
Commentary : Performance and Outlook of Engineering, Procurement & Construction or EPC Sector 2013-2014. December 2013
Commentary : Performance and Outlook of Oil and Gas Sector 2013-2014. December 2013
Commentary : Performance and Outlook of Tourism and Leisure Sector 2013-2014. December 2013
Press Release : Stable Performance and Outlook for ICRA Indonesia’s Financial Sector, 11 December 2013
Press Release : Stable Performance and Outlook for ICRA Indonesia’s Corporate Sectors. 11 December 2013
Commentary : Real Estate Snapshot 2013: Demand, Supply and Prices in Greater Jakarta, August 2013
Commentary : Minimum Capital Provisioning for Credit Risk – a Comparative Study of Basel I and Basel II, June 2013
Press Release : Minimum Capital Provisioning for Credit Risk – a Comparative Study of Basel I and Basel II, 26 June 2013
Commentary : Banking Sector: Loans Performance and Credit Quality in 2012, Expectations for 2013, March 2013
Press Release : Banking Sector: Loans Performance and Credit Quality in 2012,Expectations for 2013, 20 March 2013
Commentary : Overview of the Indonesian Animal Feed Industry, December 2012
Press Release : Bank Loans : Performance in 2011 dan Expectation for 2012, 21 March 2012
  Commentary : Bank Loans : Performance in 2011 dan Expectation for 2012, March 2012
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Indonesia's
Credit Rating Specialist
  Commercial Paper Rating Methodology

The analytical method that ICRA Indonesia follows for rating short-term instruments such as Commercial Paper is almost similar to the one it uses to assign long-term credit ratings. The main distinction between the two is that ICRA Indonesia rating methodology for Commercial Paper programmes focuses primarily on evaluating the short-term liquidity position of the issuer, which in turn is determined by the business and financial risks that the issuer is exposed to. Although ICRA Indonesia ratings are specific to the instruments rated, the short-term ratings in general have a linkage with the assigned or implicit long-term ratings of the issuers concerned.
  Corporate Credit Rating Methodology

The basic objective of credit rating is to provide an opinion on the relative credit risk associated with the instrument being rated. The process, in a nutshell, involves estimating the issuer capacity to generate cash from operations and assessing the adequacy of this estimate the issuer debt servicing obligations over the tenure of the instrument. Additionally, the rating process also involves assessing the cash flow support that may be available to supplement the operational cash flows.
  Issuer Rating Methodology
Business Risk
Industry Risk
Competitve Position
Management Quality
 
Financial Risk
Financial Position
Profitability
Capital Structure
Financial Flexibility
 
 

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