Companies Under The Ministry Of Finance Geo Dipa Rai Rai Rating AAA From Fitch

Photo: Doc. Geo Dipa

JAKARTA PT Geo Dipa Energi is said to have received the best ranking in an assessment conducted by Fitch Ratings for the National Long-Term category, namely AAA.

Plt. Geo President Director Dipa Yudistian Yunis said this score is one proof that the company has strong financial fundamentals.

"This is an added value that must be maintained," he said in a written statement on Tuesday, February 21.

According to Yudis, the achievements achieved are clear evidence in supporting the energy transition in Indonesia.

"The government through the Ministry of Finance has fully supported us. It is important for us to maintain this trust. Not only the company's portfolio, this is all related to the belief in the climate of renewable energy investment in Indonesia in the future," he said.

Yudis added, with this Fitch Ratings rating, Geo Dipa is increasingly having good prospects for developing its business.

"We will play an important role in the development of the renewable energy industry, especially geothermal in Indonesia," he stressed.

For information, Fitch Ratings is one of the international standard credit rating agencies. Fitch's ranks companies with long-term credit categories based on scales ranging from "AA" to "D".

Meanwhile, Geo Dipa, which is also the Ministry of Finance's Special Mission Vehicle (SMV), obtained a loan facility to fund the company's expansion of US$300 million from the Asian Development Bank (ADB) and US$35 million from the ADB Clean Technology Fund (CTF).

This loan is fully guaranteed by the state together with PT Penjaminan Infrastruktur Indonesia (Persero).

The government itself guarantees more than 75 percent of Geo Dipa loans.

The high proportion of government guarantees illustrates the ability to return so strong that it minimizes the risk of default.