Moody's Investor Service Has Assigned An Investment-Grade Rating For The First Time To PT Pertamina International Shipping (PIS) And Received A Baa3 Rating With A Stable Outlook
Dear investors,
We are delighted to share with you that Moody's Investor Service, an international credit rating agency, has assigned an investment-grade rating for the first time to PT Pertamina International Shipping (PIS) and received a Baa3 rating with a stable outlook.
The rating reflects PIS's strategic role as an integrated maritime logistics provider in the oil and gas commodity chain and reflects the company's strong cash flow stability and visibility, supported by its long-term captive business within the Pertamina Group. This factor is also enhanced through internal policies which requires Pertamina’s subsidiaries to utilize PIS and significant barriers to entry for competitors due to Indonesia’s cabotage law.
PIS's access to the banking industry, demonstrated by securing significant syndicated loans totaling $750 million in the last two years, further supports its credit rating along with the strength of PIS's fleet, currently operating 869 vessels, including 95 owned tankers, 315 leased tankers, and 459 support vessels.
Additionally, Moody's also emphasizes the company's liquidity, stating that the projected cash flow from its operations is sufficient to support capital expenditures, debt payments, and dividend obligations which also contributed for the final credit rating.
To learn more about our latest news and investor information, please visit our website: https://www.pertamina.com/en/Investor-relations
We sincerely appreciate your continued and profound interest in Pertamina. If you have any questions regarding this email or any other matters related to Pertamina’s scope of business, please do not hesitate to contact our Investor Relations Team at pertamina_ir@pertamina.com
Best regards,
Pertamina Investor Relations