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Danareksa (Persero)
Released : March 17, 2010 PEFINDO upgraded the ratings for PT Danareksa (Persero) (DNRK or the Company), the Company’s Bonds II/2007 amounting to IDR500 billion, Bonds III/2008 amounting of IDR500 billion, and Bond IV/2009 amounting to IDR200 billion, from “idA-” to “idA” . The outlook for those ratings is “stable”. The ratings reflect strong support from the Government of Indonesia, DNRK’s strong market position, relatively strong capitalization, and improved liquidity position and financial flexibility. However, the ratings are constrained by the low profitability and volatile nature of the capital market. Established by Government of Indonesia (GOI) in 1976 to support the growth of Indonesian capital market, DNRK is a holding company of three operating subsidiaries offering services in underwriting, financial advisory, brokerage, and asset management. One subsidiary, PT Danareksa Futures is still being processed to be closed down. DNRK is wholly-owned by the Government of Indonesia. As of FY09, DNRK has 331 permanent employees and 29 marketing offices to support its daily business activities. Rating Period: March 9, 2010 – March 1, 2011
Contact Analyst: Danan Dito & Hendro Utomo
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