PEFINDO’s rating reflects the very strong likelihood of support from the shareholders. GuarantCo’s standalone credit profile represents its very strong capitalisation profile, conservative investment criteria, along with a moderate operating performance. This rating action by PEFINDO follows the National Insurer Financial Strength (IFS) Rating of AAA (idn) with Stable outlook assigned to GuarantCo by Fitch Ratings Indonesia in June 2024.
Separately, Moody’s Ratings has also reaffirmed GuarantCo’s A1 Stable rating. In a regular update report, Moody’s advised that GuarantCo’s A1 long-term issuer rating reflects its very robust liquidity position and strong shareholder support against moderate but gradually rising leverage and the low credit quality of the borrowers under its guarantees.
