Jakarta – PT Pemeringkat Efek Indonesia (Pefindo) has upgraded PT Wijaya Karya (Persero) Tbk's rating to idBBB- from idSD with a "stable" outlook. The rating of the Company's Securities, namely Sustainable Bonds (SR) I, II, III and Sukuk Mudharabah I, II, III has also been raised to idBBB- from idCCC. As a result, the Company's Health Level for fiscal year 2023 has also reached the "Healthy" category.
The rating upgrade reflects the Company's actions in relation to the full payment of the principal of Sukuk Mudharabah I Phase I Series A on April 29, 2024 amounting to Rp184 billion, which had previously not been paid on December 18, 2023, as well as Pefindo's optimism regarding the Company's ability to strengthen its financial performance, after receiving a State Capital Injection (PMN) of Rp6 trillion from the Government.
WIKA's President Director, Agung Budi Waskito (BW), welcomed the rating from Pefindo positively. The rating affirms the Company's improved performance, which stems from WIKA's commitment to implementing 8 stream healing methods as an effort to strengthen its financial performance.
In line with this, Agung BW also stated that these methods also contributed to positive results in the Company's financial statements for the first quarter, where the Company's gross profit margin increased to 10.43% from 7.31% in the same period of the previous year.
Going forward, the Company will continue to focus on improving its financial and operational performance. The Company is also committed to carrying out its business activities in a sustainable and accountable manner based on the principles of risk management and good corporate governance.