Chandra Asri Bonds’ Received Stable Rating from PEFINDO

PT Pemeringkat Efek Indonesia (PEFINDO) has affirmed its “idAA-“ ratings for PT Chandra Asri Petrochemical Tbk (TPIA / Chandra Asri) and its outstanding bonds. The outlook for the corporate rating is affirmed to be Stable. The rating reflects PEFINDO’s view of Chandra Asri’s leading position in the domestic petrochemical industry. Chandra Asri will continue to maintain financial prudence and capital discipline, prioritize higher return, lower risk and faster payback investments in areas where Company possesses sustainable competitive advantage, in tune with the recent announcements of our Memorandum of Understanding (MoU) signing with Indonesia Investment Authority (INA), to jointly develop a world-scale chlor-alkali plant in Indonesia which as well part of CAP2 expansion plans.