Search This Bitch

Loading...

AddThis?

Share |

Tuesday, May 3, 2011

Toyota Financial Services pocketed idAA- rating

3/5/2011
Irvin Avriano A.

Toyota Financial Services pocketed idAA- rating

JAKARTA: PT Toyota Astra Financial Services pocketed idAA- rating from PT Pemeringkat Efek Indonesia (Pefindo) for their I/2011 bond issuance plan amounted to IDR1.5 trillion, just four level under the highest rating, idAAA.

The rating also give the one of Astra Group company the highest rating level on the multi finance industry, together with its tiers: PT Adira Dinamika Multi Finance Tbk, PT Astra Sedaya Finance, PT BCA Finance, and PT Federal International Finance.

"The ratings reflect the very strong support from the company’s shareholders, a dominant position in the financing of the Toyota brand cars, and good asset quality," said Pefindo analyst Danan Dito in a press release today.

However, he said, the ratings are also constrained by capital which is under the average and less diversified portfolios.

At the present time, the bonds issuance plan will be assisted by PT Trimegah Securities Tbk, PT Indo Premier Securities, and PT HSBC Securities Indonesia as its lead underwriters. The rating is giving a positive sentiment for the company to attract less-risk potential investors, but with less coupon because of the high level rating that been earned.

Their registration document has been processed by Bapepam-LK, after passed through the process in the Indonesia Stock Exchange (IDX) and already earned a pre-listing contract.

The company which began operating in May 2006 was established to support the sales of Toyota brand cars through credit lines. The owner of each company's 50% share consist of PT Astra International Tbk and Toyota Financial Services Corporation, Japan, a direct subsidiary of Toyota Motor Corporation, Japan.

As of late last year, the company that commandeered by Buntoro Muljono has 82,176 customers, 14 branches, 3 sub-branches, and 600 employees in the Java, Sumatra, Kalimantan, and Sulawesi areas.

0 comments:

Followers

Bisnis Online Free Automatic Backlink Investing Blogs - BlogCatalog Blog Directory